Pagaya Technologies Sees Unusually Large Options Volume (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) saw unusually large options trading activity on Wednesday. Investors acquired 3,399 call options on the company. This is an increase of 43% compared to the average volume of 2,383 call options.

Insider Transactions at Pagaya Technologies

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

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PGY. R Squared Ltd purchased a new stake in Pagaya Technologies in the 4th quarter worth approximately $30,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Pagaya Technologies during the fourth quarter worth $43,000. GAMMA Investing LLC boosted its stake in shares of Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after purchasing an additional 4,345 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $57,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $67,000. Hedge funds and other institutional investors own 57.14% of the company's stock.

Pagaya Technologies Trading Up 5.3%

Shares of PGY traded up $0.77 during mid-day trading on Monday, reaching $15.35. The company's stock had a trading volume of 3,727,649 shares, compared to its average volume of 1,838,010. The stock has a market cap of $1.16 billion, a PE ratio of -2.79 and a beta of 5.88. 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 has a 52 week low of $8.20 and a 52 week high of $19.20. The company's fifty day moving average price is $10.67 and its two-hundred day moving average price is $10.73.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGY. JMP Securities increased their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Citigroup raised shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. B. Riley reissued a "buy" rating and set a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Benchmark reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Pagaya Technologies has an average rating of "Moderate Buy" and a consensus price target of $20.61.

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.