Analysts Set Pagaya Technologies Ltd. (NASDAQ:PGY) PT at $21.13

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.00.

A number of research analysts have commented on PGY shares. Oppenheimer assumed coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price target for the company. Benchmark restated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. B. Riley cut their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Canaccord Genuity Group decreased their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, UBS Group initiated coverage on shares of Pagaya Technologies in a research note on Friday. They set a “neutral” rating and a $11.00 target price on the stock.

Pagaya Technologies Stock Performance

Shares of NASDAQ:PGY opened at $8.95 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a market cap of $659.22 million, a price-to-earnings ratio of -3.52 and a beta of 6.11. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $20.00. The company has a 50-day moving average price of $10.76 and a 200-day moving average price of $12.03.

Insider Buying and Selling

In related news, President Sanjiv Das sold 10,683 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $11.77, for a total transaction of $125,738.91. Following the sale, the president now directly owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This represents a 14.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yahav Yulzari purchased 23,600 shares of Pagaya Technologies stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $10.52 per share, with a total value of $248,272.00. Following the transaction, the insider now directly owns 311,637 shares of the company’s stock, valued at $3,278,421.24. This represents a 8.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 186,045 shares of company stock worth $2,755,982 in the last three months. 49.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in Pagaya Technologies by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after buying an additional 1,826 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Pagaya Technologies during the 3rd quarter valued at about $223,000. Geode Capital Management LLC grew its stake in shares of Pagaya Technologies by 7.8% in the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock worth $6,310,000 after acquiring an additional 43,068 shares during the period. State Street Corp raised its holdings in shares of Pagaya Technologies by 14.6% during the third quarter. State Street Corp now owns 763,823 shares of the company’s stock valued at $8,074,000 after purchasing an additional 97,135 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Pagaya Technologies by 4,374.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after buying an additional 304,890 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.