Pagaya Technologies (NASDAQ:PGY) Trading Down 11.1%

Pagaya Technologies Ltd. (NASDAQ:PGY)’s stock price traded down 11.1% on Monday . The company traded as low as $11.51 and last traded at $12.06. 66,170 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,114,981 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Pagaya Technologies in a research note on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective for the company. Citigroup assumed coverage on shares of Pagaya Technologies in a research note on Friday, May 24th. They issued a “neutral” rating and a $14.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Pagaya Technologies in a research note on Friday, May 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Pagaya Technologies in a report on Thursday, May 9th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Friday, June 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.93.

Pagaya Technologies Price Performance

The firm has a market capitalization of $977.71 million, a P/E ratio of -10.24 and a beta of 6.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.36 and a quick ratio of 2.36. The stock’s fifty day simple moving average is $13.08 and its 200 day simple moving average is $12.75.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Thursday, May 9th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). Pagaya Technologies had a negative return on equity of 4.23% and a negative net margin of 10.53%. The firm had revenue of $237.00 million during the quarter, compared to the consensus estimate of $229.45 million. During the same quarter in the prior year, the firm posted ($0.48) earnings per share. On average, equities research analysts predict that Pagaya Technologies Ltd. will post -0.17 EPS for the current year.

Insider Activity

In other news, Director Nicole Torraco sold 4,743 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.04, for a total transaction of $57,105.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Nicole Torraco sold 4,743 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.04, for a total transaction of $57,105.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Evangelos Perros sold 11,293 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $12.15, for a total value of $137,209.95. The disclosure for this sale can be found here. Insiders have sold a total of 16,236 shares of company stock worth $197,438 over the last 90 days. 19.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yarra Square Partners LP acquired a new stake in shares of Pagaya Technologies in the 4th quarter worth $4,099,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pagaya Technologies in the 1st quarter worth $12,686,000. Hood River Capital Management LLC acquired a new stake in shares of Pagaya Technologies in the 1st quarter worth $9,265,000. Quadrature Capital Ltd increased its stake in shares of Pagaya Technologies by 3,558.5% in the 4th quarter. Quadrature Capital Ltd now owns 784,860 shares of the company’s stock worth $1,079,000 after acquiring an additional 763,407 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pagaya Technologies by 14.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock worth $6,818,000 after acquiring an additional 83,913 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.