Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $22.11 Consensus Target Price from Analysts

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment 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 brokers that have issued a report on the stock in the last year is $22.11.

A number of equities research analysts have issued reports on PGY shares. B. Riley reduced their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Wedbush reissued a "neutral" rating and issued a $13.00 target price on shares of Pagaya Technologies in a report on Monday, August 12th. Benchmark reissued a "buy" rating and set a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Canaccord Genuity Group dropped their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Finally, JMP Securities reissued a "market outperform" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Tuesday, September 3rd.

Pagaya Technologies Trading Up 1.7 %

PGY stock traded up $0.15 during trading on Wednesday, hitting $8.77. The company had a trading volume of 1,826,647 shares, compared to its average volume of 1,403,867. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $20.50. The company has a 50 day simple moving average of $11.37 and a 200-day simple moving average of $12.32. The firm has a market capitalization of $629.82 million, a P/E ratio of -3.39 and a beta of 6.33. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das sold 10,683 shares of the firm's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $11.77, for a total value of $125,738.91. Following the sale, the president now directly owns 64,794 shares in the company, valued at approximately $762,625.38. This trade represents a 14.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the transaction, the insider now directly owns 161,637 shares in the company, valued at approximately $2,505,373.50. This represents a 48.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,045 shares of company stock valued at $2,755,982. Insiders own 49.56% of the company's stock.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. purchased a new stake in Pagaya Technologies in the 1st quarter worth approximately $1,101,000. Hood River Capital Management LLC acquired a new stake in Pagaya Technologies during the 1st quarter worth about $9,265,000. Black Maple Capital Management LP acquired a new position in shares of Pagaya Technologies during the 1st quarter worth approximately $438,000. SG Americas Securities LLC acquired a new position in Pagaya Technologies during the 2nd quarter worth approximately $101,000. Finally, Bank of New York Mellon Corp purchased a new stake in Pagaya Technologies during the second quarter worth approximately $1,564,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.