Pagaya Technologies (NASDAQ:PGY) Price Target Lowered to $25.00 at Canaccord Genuity Group

Pagaya Technologies (NASDAQ:PGY) had its price objective lowered by equities research analysts at Canaccord Genuity Group from $32.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 176.24% from the company’s current price.

Several other equities research analysts have also weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. B. Riley reduced their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wedbush restated a “neutral” rating and issued a $13.00 target price on shares of Pagaya Technologies in a report on Monday, August 12th. Oppenheimer began coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 target price for the company. Finally, Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Pagaya Technologies has an average rating of “Moderate Buy” and an average target price of $22.11.

Pagaya Technologies Trading Down 4.4 %

PGY traded down $0.42 on Wednesday, hitting $9.05. The company had a trading volume of 910,544 shares, compared to its average volume of 1,382,542. The company’s fifty day moving average price is $11.64 and its 200 day moving average price is $12.34. Pagaya Technologies has a 1-year low of $8.56 and a 1-year high of $20.50. The company has a quick ratio of 1.50, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Insider Activity

In other news, insider Yahav Yulzari sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the sale, the insider now directly owns 161,637 shares in the company, valued at approximately $2,505,373.50. The trade was a 48.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tami Rosen sold 17,570 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.06, for a total value of $211,894.20. Following the sale, the insider now owns 73,516 shares in the company, valued at approximately $886,602.96. This represents a 19.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,045 shares of company stock worth $2,755,982. Company 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 PGY. The Manufacturers Life Insurance Company grew its position in Pagaya Technologies by 13.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock valued at $176,000 after acquiring an additional 1,937 shares during the period. BNP Paribas Financial Markets grew its position in Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock valued at $103,000 after acquiring an additional 3,181 shares during the period. nVerses Capital LLC bought a new stake in Pagaya Technologies in the second quarter valued at $74,000. SG Americas Securities LLC bought a new stake in Pagaya Technologies in the second quarter valued at $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Pagaya Technologies in the second quarter valued at $166,000. 57.14% of the stock is currently owned by 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.