Pagaya Technologies (NASDAQ:PGY) Stock Price Up 4.5% – Should You Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY) rose 4.5% during mid-day trading on Monday . The stock traded as high as $9.62 and last traded at $9.69. 953,128 shares were traded during mid-day trading, a decline of 32% from the average session volume of 1,411,264 shares. The stock had previously closed at $9.28.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PGY. Benchmark reaffirmed a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. Canaccord Genuity Group dropped their price target on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, UBS Group initiated coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 price target for the company. Three 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 company has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Pagaya Technologies Trading Up 3.4 %

The business has a fifty day moving average of $9.56 and a 200-day moving average of $11.21. The stock has a market capitalization of $769.75 million, a price-to-earnings ratio of -4.11 and a beta of 6.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.50, for a total value of $2,325,000.00. Following the completion of the sale, the insider now owns 161,637 shares in the company, valued at $2,505,373.50. This represents a 48.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tami Rosen sold 21,547 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the transaction, the insider now owns 73,550 shares in the company, valued at approximately $733,293.50. This represents a 22.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,477 shares of company stock valued at $2,879,920 over the last three months. Company insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its position in shares of Pagaya Technologies by 4,374.9% in the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after buying an additional 304,890 shares during the last quarter. Arizona PSPRS Trust acquired a new stake in Pagaya Technologies in the 3rd quarter worth approximately $2,183,000. Millennium Management LLC boosted its position in Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares during the period. 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 valued at $1,610,000 after purchasing an additional 127,012 shares during the last quarter. Finally, State Street Corp raised its position in shares of 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. 57.14% of the stock is owned by hedge funds and other 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.