Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has earned an average rating of "Moderate Buy" from the nine ratings firms that are covering the company, 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 12 month price target among analysts that have issued ratings on the stock in the last year is $20.00.

Several research firms have commented on PGY. Canaccord Genuity Group decreased their target price on shares of Pagaya Technologies from $32.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. UBS Group initiated coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a "neutral" rating and a $11.00 target price on the stock. Finally, Benchmark reiterated a "buy" rating and set a $21.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 16th.

Pagaya Technologies Stock Performance

Shares of PGY traded up $0.34 during midday trading on Monday, hitting $10.45. 1,464,736 shares of the stock traded hands, compared to its average volume of 1,481,436. The business's 50 day moving average price is $9.56 and its two-hundred day moving average price is $11.21. The firm has a market capitalization of $769.75 million, a PE ratio of -4.11 and a beta of 6.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $20.00.

Insider Activity

In other news, CFO Evangelos Perros sold 21,305 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $212,410.85. Following the sale, the chief financial officer now directly owns 54,029 shares of the company's stock, valued at $538,669.13. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Sanjiv Das sold 6,343 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the completion of the transaction, the president now owns 75,528 shares of the company's stock, valued at $753,014.16. This trade represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,477 shares of company stock worth $2,879,920 over the last 90 days. 49.56% of the stock is currently owned by company insiders.

Institutional Trading of Pagaya Technologies

Hedge funds have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Pagaya Technologies by 14.6% during the third quarter. State Street Corp now owns 763,823 shares of the company's stock valued at $8,074,000 after buying an additional 97,135 shares in the last quarter. Geode Capital Management LLC grew its stake in Pagaya Technologies by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 596,992 shares of the company's stock valued at $6,310,000 after acquiring an additional 43,068 shares in the last quarter. FMR LLC grew its stake in Pagaya Technologies by 8.3% during the 3rd quarter. FMR LLC now owns 524,570 shares of the company's stock valued at $5,545,000 after acquiring an additional 40,031 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Pagaya Technologies by 4,374.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company's stock valued at $3,296,000 after purchasing an additional 304,890 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Pagaya Technologies by 455.9% in 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 in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

About Pagaya Technologies

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.