Pagaya Technologies Ltd. (NASDAQ:PGY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Pagaya Technologies Ltd. (NASDAQ:PGY) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.00.

A number of research analysts recently commented on PGY shares. Canaccord Genuity Group decreased their price objective on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Oppenheimer began coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. UBS Group began coverage on Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price for the company. Finally, B. Riley cut their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, September 30th.

Pagaya Technologies Stock Up 3.2 %

Pagaya Technologies stock opened at $8.81 on Thursday. The firm has a market cap of $648.91 million, a price-to-earnings ratio of -3.47 and a beta of 6.12. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $20.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The business’s 50-day moving average price is $9.95 and its 200 day moving average price is $11.66.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 6,343 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $63,239.71. Following the transaction, the president now owns 75,528 shares in the company, valued at approximately $753,014.16. This trade represents a 7.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $212,410.85. Following the completion of the transaction, the chief financial officer now directly owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. The trade was a 28.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 224,424 shares of company stock valued at $3,119,276 over the last quarter. Corporate insiders own 49.56% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in Pagaya Technologies by 14.6% in the 3rd quarter. State Street Corp now owns 763,823 shares of the company’s stock worth $8,074,000 after purchasing an additional 97,135 shares in the last quarter. Yarra Square Partners LP raised its holdings in Pagaya Technologies by 29.9% in the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after purchasing an additional 142,500 shares in the last quarter. Geode Capital Management LLC lifted its position in Pagaya Technologies by 7.8% during the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock valued at $6,310,000 after buying an additional 43,068 shares during the period. FMR LLC boosted its position in shares of Pagaya Technologies by 8.3% in the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock worth $5,545,000 after purchasing an additional 40,031 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Pagaya Technologies by 4,374.9% during the third 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 last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

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.