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

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $20.00.

Several equities research analysts recently commented on PGY shares. Canaccord Genuity Group cut their target price on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. Finally, UBS Group initiated coverage on Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price on the stock.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $9.28 on Monday. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $20.00. The stock has a fifty day moving average of $9.58 and a 200-day moving average of $11.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $683.56 million, a P/E ratio of -3.65 and a beta of 6.12.

Insider Transactions at Pagaya Technologies

In other news, CFO Evangelos Perros sold 21,305 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 $212,410.85. Following the transaction, the chief financial officer now directly owns 54,029 shares in the company, valued at $538,669.13. This trade represents a 28.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Sanjiv Das sold 7,282 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $64,445.70. Following the completion of the transaction, the president now directly owns 91,163 shares in the company, valued at approximately $806,792.55. This represents a 7.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 214,136 shares of company stock valued at $2,971,828. Corporate insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Pagaya Technologies by 502.5% in the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock worth $1,610,000 after purchasing an additional 127,012 shares during the last quarter. Point72 Asset Management L.P. raised its stake 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 acquiring an additional 304,890 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Pagaya Technologies during the third quarter valued at approximately $617,000. Millennium Management LLC raised its stake in shares of Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after acquiring an additional 179,235 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Pagaya Technologies by 17.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock worth $1,184,000 after buying an additional 16,533 shares in the last quarter. 57.14% of the stock is owned by institutional investors.

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.