Pagaya Technologies (NASDAQ:PGY) Given New $25.00 Price Target at Canaccord Genuity Group

Pagaya Technologies (NASDAQ:PGY - Free Report) had its price objective lowered by Canaccord Genuity Group from $32.00 to $25.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Benchmark reissued a "buy" rating and issued a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 16th. B. Riley lowered their target price on Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Oppenheimer initiated coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 price target for the company. Wedbush reaffirmed a "neutral" rating and issued a $13.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. Finally, JMP Securities reissued a "market outperform" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.11.

Pagaya Technologies Price Performance

Pagaya Technologies stock traded down $0.70 during midday trading on Wednesday, reaching $10.18. The company had a trading volume of 5,154,553 shares, compared to its average volume of 1,371,173. Pagaya Technologies has a 12-month low of $8.56 and a 12-month high of $20.50. The firm's fifty day simple moving average is $11.68 and its 200-day simple moving average is $12.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $731.13 million, a P/E ratio of -4.01 and a beta of 6.33.

Insider Activity at Pagaya Technologies

In other news, insider Yahav Yulzari sold 150,000 shares of the firm's 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 transaction, the insider now owns 161,637 shares of the company's stock, valued at approximately $2,505,373.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Yahav Yulzari sold 150,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 161,637 shares of the company's stock, valued at approximately $2,505,373.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tami Rosen sold 17,570 shares of Pagaya Technologies stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.06, for a total value of $211,894.20. Following the sale, the insider now directly owns 73,516 shares of the company's stock, valued at $886,602.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,045 shares of company stock worth $2,755,982. Insiders own 49.56% of the company's stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings 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 buying an additional 1,937 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company's stock worth $103,000 after purchasing an additional 3,181 shares in the last quarter. nVerses Capital LLC acquired a new stake in Pagaya Technologies in the second quarter valued at $74,000. SG Americas Securities LLC acquired a new stake in Pagaya Technologies in the second quarter valued at $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Pagaya Technologies during the 2nd quarter worth $166,000. 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.