Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $21.13 Consensus Target Price from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.13.

Several equities analysts recently commented on PGY shares. B. Riley reduced their price target on Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Canaccord Genuity Group reduced their target price on shares of Pagaya Technologies from $32.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Benchmark reiterated a "buy" rating and issued a $21.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 16th. Finally, Oppenheimer assumed coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 price objective for the company.

Pagaya Technologies Stock Up 1.7 %

NASDAQ:PGY traded up $0.16 during mid-day trading on Friday, hitting $9.64. The company had a trading volume of 858,193 shares, compared to its average volume of 1,410,127. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $20.50. The business has a fifty day simple moving average of $10.85 and a 200-day simple moving average of $12.11. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $710.04 million, a price-to-earnings ratio of -3.80 and a beta of 6.11.

Insider Activity

In other Pagaya Technologies news, insider Tami Rosen sold 17,570 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.06, for a total value of $211,894.20. Following the transaction, the insider now owns 73,516 shares of the company's stock, valued at $886,602.96. This trade represents a 19.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Yahav Yulzari bought 23,600 shares of the firm's stock in a transaction on Monday, September 30th. The stock was bought at an average price of $10.52 per share, with a total value of $248,272.00. Following the completion of the purchase, the insider now owns 311,637 shares of the company's stock, valued at $3,278,421.24. This trade represents a 8.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 186,045 shares of company stock worth $2,755,982. 49.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Large investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Pagaya Technologies in the 2nd quarter valued at approximately $74,000. SG Americas Securities LLC acquired a new position in shares of Pagaya Technologies during the second quarter valued at $101,000. BNP Paribas Financial Markets raised its stake in shares of Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company's stock valued at $103,000 after purchasing an additional 3,181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Pagaya Technologies in the second quarter worth about $166,000. Finally, The Manufacturers Life Insurance Company grew its position in Pagaya Technologies by 13.2% in the 3rd 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. 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.