Stock Traders Buy Large Volume of Pagaya Technologies Call Options (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY) was the recipient of unusually large options trading on Tuesday. Stock traders bought 6,711 call options on the stock. This is an increase of 40% compared to the average volume of 4,780 call options.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $34.50.

Insider Transactions at Pagaya Technologies

In other news, Director Tami Rosen sold 9,944 shares of Pagaya Technologies stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the sale, the director owned 37,544 shares in the company, valued at $570,668.80. This trade represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Cory Vieira sold 2,140 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total transaction of $32,121.40. Following the transaction, the chief accounting officer directly owned 18,179 shares in the company, valued at approximately $272,866.79. The trade was a 10.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 67,810 shares of company stock worth $1,070,925 over the last 90 days. 47.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in shares of Pagaya Technologies in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after acquiring an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter valued at approximately $30,000. Quarry LP raised its position in shares of Pagaya Technologies by 330.8% during the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after acquiring an additional 1,277 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Pagaya Technologies during the fourth quarter worth $52,000. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Price Performance

PGY opened at $18.25 on Wednesday. The company has a 50-day moving average of $14.53 and a 200-day moving average of $15.82. The company has a market capitalization of $1.51 billion, a P/E ratio of 17.06 and a beta of 5.35. Pagaya Technologies has a 1-year low of $10.40 and a 1-year high of $44.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. The company had revenue of $91.63 million during the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. Equities analysts expect that Pagaya Technologies will post 2.92 EPS for the current fiscal year.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.