Pagaya Technologies (NASDAQ:PGY) Shares Gap Down - What's Next?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $11.84, but opened at $11.35. Pagaya Technologies shares last traded at $11.45, with a volume of 240,381 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. B. Riley reiterated a "buy" rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities boosted their price target 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. Canaccord Genuity Group restated a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Thursday, February 13th. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Finally, Benchmark reissued a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.61.

Pagaya Technologies Stock Performance

The firm has a market cap of $1.10 billion, a PE ratio of -2.65 and a beta of 5.88. The stock has a 50-day moving average price of $10.67 and a 200 day moving average price of $10.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

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

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the transaction, the president now owns 105,817 shares in the company, valued at $989,388.95. The trade was a 10.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tami Rosen sold 35,369 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the completion of the transaction, the insider now directly owns 38,181 shares of the company's stock, valued at $572,715. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. 49.56% of the stock is owned by company insiders.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Pagaya Technologies by 502.5% in the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company's stock worth $1,610,000 after purchasing an additional 127,012 shares during the period. IFP Advisors Inc boosted its holdings in shares of Pagaya Technologies by 80.7% in the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company's stock valued at $123,000 after buying an additional 5,925 shares during the period. Rhumbline Advisers grew its position in shares of Pagaya Technologies by 14.7% during the 4th quarter. Rhumbline Advisers now owns 75,620 shares of the company's stock valued at $703,000 after buying an additional 9,674 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Pagaya Technologies during the fourth quarter worth about $57,000. Finally, Barclays PLC bought a new position in Pagaya Technologies in the fourth quarter worth about $595,000. 57.14% of the stock is owned by institutional investors.

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.