Pagaya Technologies (NASDAQ:PGY) Stock Price Up 4.5% - What's Next?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) shares traded up 4.5% during trading on Monday . The company traded as high as $9.62 and last traded at $9.69. 953,128 shares were traded during mid-day trading, a decline of 32% from the average session volume of 1,411,264 shares. The stock had previously closed at $9.28.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Benchmark reiterated a "buy" rating and set a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Canaccord Genuity Group dropped 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. UBS Group started coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a "neutral" rating and a $11.00 price target for the company. Finally, Citigroup upgraded Pagaya Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $13.00 to $14.50 in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.06.

Pagaya Technologies Stock Performance

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 fifty day moving average price of $9.59 and a 200 day moving average price of $11.16. The firm has a market cap of $920.75 million, a PE ratio of -4.92 and a beta of 6.09.

Insiders Place Their Bets

In other news, insider Tami Rosen sold 9,846 shares of Pagaya Technologies stock in a transaction on Friday, February 7th. The stock was sold at an average price of $12.18, for a total value of $119,924.28. Following the completion of the sale, the insider now directly owns 73,550 shares of the company's stock, valued at approximately $895,839. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction dated 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. The trade was a 48.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,323 shares of company stock valued at $2,999,844 over the last quarter. 49.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently added to or reduced their stakes in PGY. Point72 Asset Management L.P. raised 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 in the last quarter. Arizona PSPRS Trust purchased a new stake in Pagaya Technologies during the 3rd quarter worth about $2,183,000. Millennium Management LLC boosted its position in shares of Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company's stock worth $2,789,000 after acquiring an additional 179,235 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Pagaya Technologies by 502.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company's stock valued at $1,610,000 after acquiring an additional 127,012 shares during the last quarter. Finally, State Street Corp raised its position in shares of Pagaya Technologies by 14.6% during the 3rd quarter. State Street Corp now owns 763,823 shares of the company's stock worth $8,074,000 after acquiring an additional 97,135 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.