Pagaya Technologies (NASDAQ:PGY) Shares Up 7.3% – Time to Buy?

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) traded up 7.3% during trading on Thursday . The company traded as high as $10.06 and last traded at $9.97. 367,229 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,420,271 shares. The stock had previously closed at $9.29.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PGY. 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 on the stock. UBS Group assumed coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target for the company. B. Riley reduced their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. Finally, Canaccord Genuity Group cut their price target on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Pagaya Technologies Stock Up 8.1 %

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’s 50-day moving average is $10.38 and its 200 day moving average is $11.84. The stock has a market capitalization of $766.76 million, a PE ratio of -4.10 and a beta of 6.11.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das sold 10,683 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $11.77, for a total transaction of $125,738.91. Following the completion of the sale, the president now directly owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This trade represents a 14.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tami Rosen sold 21,547 shares of Pagaya Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $214,823.59. Following the completion of the sale, the insider now directly owns 73,550 shares of the company’s stock, valued at $733,293.50. The trade was a 22.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,240 shares of company stock valued at $3,246,456. 49.56% of the stock is owned by company insiders.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Pagaya Technologies by 502.5% during the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock worth $1,610,000 after acquiring an additional 127,012 shares during the period. Tidal Investments LLC raised its position in shares of Pagaya Technologies by 4.6% in the third quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock valued at $437,000 after buying an additional 1,826 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Pagaya Technologies during the 3rd quarter worth $223,000. 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 worth $6,310,000 after buying an additional 43,068 shares during the period. Finally, State Street Corp grew its holdings in Pagaya Technologies by 14.6% in 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 period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.