Pagaya Technologies (PGY)
Connects lending partners with institutional capital through AI-driven credit infrastructure.
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Runs a one-segment AI credit network that helps partner lenders originate consumer loans and related assets, then routes funding through institutional capital channels. Personal loans remain the flagship area, with auto lending and point-of-sale expanding through partner integrations.
Provides AI credit infrastructure for partner lenders rather than operating as a consumer-facing bank. The network began in personal loans and now spans personal loans, auto loans, point-of-sale credit, and single-family rental assets, with capital solutions linking loan originators to institutional investors.
Operates from New York with a Tel Aviv presence and reports the business as one segment. Personal loans remain the flagship area, while auto and point-of-sale have become the main expansion channels in recent management commentary. Execution depends on partner API adoption, underwriting performance across credit cycles, and access to ABS, forward-flow, and other institutional funding channels.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 3, 2026 | Cowen & Co. | Initiate | Rating: — | |
| Aug 18, 2026 | Jefferies | Reiterate | Rating: —Target: $22 | Target: $27 |
| Jul 27, 2026 | Coker Palmer | Target | Target: $21 | Target: $33 |
| Jun 9, 2026 | Jefferies | Target | Target: $35 | Target: $22 |
| Feb 10, 2026 | New Street | Target | Target: — | Target: $32 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.29B · Total debt $907.3M · Total assets $1.69B · Shareholders' equity $594.2M
- Revenue
- $365.6M
- Operating income
- $84.4M
- Net income
- $45.3M
No dividends on record.
| Institutions | 38.94% | 32.49M shares | |
|---|---|---|---|
| 251 holders · as of Jun 30, 2026 | |||
| Insiders | 2.77% | 2.31M shares | |
| 15 holders · as of Sep 18, 2026 | |||
| Other | 58.29% | 48.63M shares | |
| remainder | |||
83.43M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Frontier Capital Management Co LLCInstitution | 2.75% | 2.30M A | as of Jun 30, 2026 |
Millennium Management LLCInstitution | 2.74% | 2.29M A | as of Jun 30, 2026 |
American Century Companies IncInstitution | 2.26% | 1.89M A | as of Jun 30, 2026 |
Aquamarine Financial (Cayman) LtdInstitution | 2.12% | 1.77M A | as of Jun 30, 2026 |
Allspring Global Investments Holdings, LLCInstitution | 1.97% | 1.65M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 18, 2026 | Tami Rosen | director | −8,504 | $20.38 |
| Sep 17, 2026 | Jonathan Dobres | officer: Chief Financial Officer | −2,183 | $21.04 |
| Sep 12, 2026 | Tami Rosen | director | −7,121 | $20.21 |
| Sep 12, 2026 | Sanjiv Das | officer: President | −13,301 | $20.21 |
| Sep 12, 2026 | Jonathan Dobres | officer: Chief Financial Officer | −582 | $20.21 |
