Investors Purchase Large Volume of Call Options on Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors acquired 3,399 call options on the stock. This represents an increase of 43% compared to the average volume of 2,383 call options.

Pagaya Technologies Stock Performance

Shares of NASDAQ:PGY traded up $0.71 during trading on Friday, hitting $14.58. 2,859,028 shares of the company were exchanged, compared to its average volume of 1,830,418. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $19.20. The stock has a 50 day moving average of $10.67 and a 200 day moving average 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. The company has a market cap of $1.10 billion, a PE ratio of -2.65 and a beta of 5.88.

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 positive return on equity of 0.82% and a negative net margin of 39.20%. During the same period last year, the company posted $0.24 EPS. As a group, equities research analysts predict that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das sold 12,789 shares of the 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tami Rosen sold 35,369 shares of the business's stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at approximately $572,715. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 49.56% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of large investors have recently modified their holdings of PGY. R Squared Ltd bought a new position in Pagaya Technologies in the 4th quarter valued at $30,000. GAMMA Investing LLC boosted its stake in 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 buying an additional 4,345 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in Pagaya Technologies during the fourth quarter worth about $43,000. Nisa Investment Advisors LLC purchased a new position in Pagaya Technologies during the fourth quarter worth about $57,000. Finally, KLP Kapitalforvaltning AS bought a new position in Pagaya Technologies in the 4th quarter worth about $67,000. 57.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PGY has been the topic of a number of research analyst reports. 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 report on Friday, February 14th. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $13.00 to $14.50 in a research note on Friday, February 7th. B. Riley restated a "buy" rating and set a $36.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Canaccord Genuity Group reiterated a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, Benchmark reissued a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.61.

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.