Pagaya Technologies (NASDAQ:PGY) Earns Neutral Rating from Analysts at Citigroup

Citigroup assumed coverage on shares of Pagaya Technologies (NASDAQ:PGYFree Report) in a report published on Friday, Marketbeat.com reports. The firm issued a neutral rating and a $14.00 price target on the stock.

PGY has been the subject of a number of other reports. Canaccord Genuity Group restated a buy rating and issued a $42.00 price objective on shares of Pagaya Technologies in a report on Thursday, May 9th. JMP Securities decreased their price target on Pagaya Technologies from $30.00 to $25.00 and set a market outperform rating for the company in a research note on Monday, April 8th. Benchmark reaffirmed a buy rating and set a $22.00 price objective on shares of Pagaya Technologies in a research report on Friday, May 10th. Finally, Wedbush reduced their price objective on Pagaya Technologies from $18.00 to $11.50 and set a neutral rating for the company in a report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $27.50.

Read Our Latest Analysis on PGY

Pagaya Technologies Trading Up 1.8 %

Pagaya Technologies stock opened at $11.62 on Friday. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $33.96. The company has a market capitalization of $823.86 million, a price-to-earnings ratio of -8.24 and a beta of 6.55. The business’s fifty day simple moving average is $10.62 and its two-hundred day simple moving average is $13.82. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.61.

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

Insider Activity at Pagaya Technologies

In related news, CRO Yahav Yulzari acquired 60,000 shares of Pagaya Technologies stock in a transaction dated Wednesday, April 3rd. The stock was purchased at an average cost of $10.17 per share, for a total transaction of $610,200.00. Following the purchase, the executive now directly owns 299,699 shares of the company’s stock, valued at approximately $3,047,938.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Yahav Yulzari purchased 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were bought at an average price of $10.17 per share, for a total transaction of $610,200.00. Following the acquisition, the executive now owns 299,699 shares of the company’s stock, valued at approximately $3,047,938.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Sanjiv Das acquired 22,727 shares of the company’s stock in a transaction on Friday, April 5th. The shares were purchased at an average cost of $10.57 per share, with a total value of $240,224.39. Following the completion of the purchase, the president now directly owns 22,727 shares of the company’s stock, valued at $240,224.39. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 194,807 shares of company stock worth $2,012,373. 19.70% of the stock is owned by insiders.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yarra Square Partners LP bought a new stake in shares of Pagaya Technologies during the fourth quarter worth $4,099,000. Capricorn Fund Managers Ltd lifted its holdings in Pagaya Technologies by 12.6% during the 4th quarter. Capricorn Fund Managers Ltd now owns 1,736,073 shares of the company’s stock valued at $2,396,000 after buying an additional 194,073 shares in the last quarter. ARK Investment Management LLC boosted its position in Pagaya Technologies by 58.8% in the 4th quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock valued at $2,056,000 after buying an additional 551,520 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Pagaya Technologies in the 1st quarter worth about $12,686,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Pagaya Technologies during the first quarter worth approximately $9,265,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

About Pagaya Technologies

(Get Free Report)

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.

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