Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $20.61 Average PT from Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $20.61.

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. JMP Securities lifted their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, B. Riley reissued a “buy” rating and issued a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $17.99 on Friday. The company’s fifty day moving average price is $12.92 and its 200-day moving average price is $11.47. The stock has a market cap of $1.36 billion, a PE ratio of -3.27 and a beta of 5.93. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $19.20.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das sold 12,789 shares of the firm’s stock in a transaction dated 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 owns 105,817 shares of the company’s stock, 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 SEC, which is available through this link. Also, CTO Avital Pardo sold 237,748 shares of Pagaya Technologies stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the completion of the sale, the chief technology officer now owns 2,401,528 shares of the company’s stock, valued at $36,407,164.48. This represents a 9.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 533,737 shares of company stock valued at $8,114,410 over the last 90 days. Corporate insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGY. Virtus Advisers LLC purchased a new stake in Pagaya Technologies during the 1st quarter valued at $35,000. GAMMA Investing LLC grew its holdings in shares of Pagaya Technologies by 5,431.3% in 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. Pilgrim Partners Asia Pte Ltd purchased a new stake in Pagaya Technologies during the fourth quarter valued at $43,000. KLP Kapitalforvaltning AS purchased a new stake in Pagaya Technologies during the fourth quarter valued at $67,000. Finally, Jefferies Financial Group Inc. bought a new position in Pagaya Technologies in the fourth quarter valued at about $93,000. Institutional investors 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.