Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Average Rating of “Moderate Buy” from Analysts

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $34.3333.

PGY has been the topic of a number of research analyst reports. Wall Street Zen upgraded Pagaya Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 16th. Stephens initiated coverage on shares of Pagaya Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price objective on the stock. Oppenheimer lifted their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. JMP Securities upped their price target on shares of Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a research note on Monday, August 11th. Finally, Canaccord Genuity Group raised their price objective on shares of Pagaya Technologies from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, August 11th.

Insider Buying and Selling at Pagaya Technologies

In related news, CFO Evangelos Perros sold 12,755 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $22.57, for a total value of $287,880.35. Following the completion of the sale, the chief financial officer directly owned 82,870 shares in the company, valued at $1,870,375.90. The trade was a 13.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Avital Pardo sold 54,254 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total value of $1,098,100.96. Following the transaction, the chief technology officer owned 1,042,950 shares in the company, valued at $21,109,308. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 878,155 shares of company stock worth $17,372,922 in the last 90 days. Company insiders own 47.59% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB acquired a new position in Pagaya Technologies in the 2nd quarter valued at $25,000. Virtus Advisers LLC acquired a new stake in shares of Pagaya Technologies during the 1st quarter worth $35,000. Caitong International Asset Management Co. Ltd increased its position in shares of Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after purchasing an additional 520 shares during the period. GAMMA Investing LLC raised its stake in Pagaya Technologies by 5,431.3% in the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock valued at $46,000 after purchasing an additional 4,345 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Pagaya Technologies during the fourth quarter worth about $93,000. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY opened at $34.48 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average price is $27.28 and its two-hundred day moving average price is $17.88. The company has a market cap of $2.64 billion, a PE ratio of -9.00 and a beta of 5.95. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $41.48.

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.