Pagaya Technologies (NASDAQ:PGY) Shares Gap Down – Should You Sell?

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $10.66, but opened at $10.08. Pagaya Technologies shares last traded at $10.07, with a volume of 281,497 shares trading hands.

Wall Street Analyst Weigh In

PGY has been the subject of a number of research reports. UBS Group began coverage on Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley reissued a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, JMP Securities boosted their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Trading Down 2.1 %

The company has a market cap of $786.11 million, a P/E ratio of -1.90 and a beta of 5.98. The firm has a 50-day moving average of $11.55 and a 200 day moving average of $10.90. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). The company had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same period last year, the business earned $0.24 EPS. On average, analysts predict that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, CFO Evangelos Perros sold 21,305 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the transaction, the chief financial officer now directly owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tami Rosen sold 21,547 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $214,823.59. Following the sale, the insider now directly owns 73,550 shares of the company’s stock, valued at approximately $733,293.50. The trade was a 22.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,692 shares of company stock valued at $1,205,379. Corporate insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PGY. R Squared Ltd purchased a new stake in Pagaya Technologies in the 4th quarter valued at $30,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $43,000. Nisa Investment Advisors LLC bought a new position in shares of Pagaya Technologies during the fourth quarter valued at about $57,000. KLP Kapitalforvaltning AS bought a new position in shares of Pagaya Technologies during the fourth quarter valued at about $67,000. Finally, Jefferies Financial Group Inc. purchased a new position in Pagaya Technologies during the fourth quarter worth about $93,000. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

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.