Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) Target Price at $20.61

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.61.

A number of brokerages have recently issued reports on PGY. Benchmark restated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley restated a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities increased their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 13th. Finally, Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $13.00 to $14.50 in a research report on Friday, February 7th.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 12,789 shares of Pagaya Technologies stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the sale, the president now directly owns 105,817 shares in the company, valued at $989,388.95. This trade represents a 10.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tami Rosen sold 35,369 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the transaction, the insider now owns 38,181 shares of the company's stock, valued at $572,715. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,004 shares of company stock valued at $770,036. 49.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several large investors have recently modified their holdings of PGY. Wealth Enhancement Advisory Services LLC increased its stake in Pagaya Technologies by 9.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company's stock valued at $130,000 after buying an additional 1,094 shares during the period. GAMMA Investing LLC increased its stake in shares of Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock worth $46,000 after acquiring an additional 4,345 shares during the period. California State Teachers Retirement System raised its holdings in Pagaya Technologies by 5.4% during the fourth quarter. California State Teachers Retirement System now owns 35,771 shares of the company's stock worth $332,000 after purchasing an additional 1,848 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Pagaya Technologies during the 4th quarter worth approximately $93,000. Finally, PharVision Advisers LLC purchased a new position in Pagaya Technologies in the fourth quarter worth $109,000. Hedge funds and other institutional investors own 57.14% of the company's stock.

Pagaya Technologies Price Performance

Shares of PGY stock traded down $0.47 during trading hours on Friday, reaching $8.98. The company had a trading volume of 1,278,565 shares, compared to its average volume of 1,768,711. Pagaya Technologies has a 12-month low of $8.20 and a 12-month high of $19.20. The company has a market capitalization of $676.18 million, a price-to-earnings ratio of -1.63 and a beta of 5.89. 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 fifty day moving average of $11.46 and a 200-day moving average of $10.69.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The firm had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. During the same period in the previous year, the firm posted $0.24 EPS. On average, equities analysts anticipate that Pagaya Technologies will post 0.88 earnings per share for the current year.

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.