Wall Street Zen Downgrades Pagaya Technologies (NASDAQ:PGY) to Buy

Pagaya Technologies (NASDAQ:PGY) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other research firms have also weighed in on PGY. Canaccord Genuity Group increased their target price on shares of Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Benchmark reiterated a “buy” rating and issued a $48.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 1st. Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. B. Riley upped their target price on Pagaya Technologies from $46.00 to $54.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.67.

Pagaya Technologies Price Performance

Shares of Pagaya Technologies stock opened at $24.83 on Friday. The company’s fifty day simple moving average is $26.56 and its two-hundred day simple moving average is $27.26. Pagaya Technologies has a 12-month low of $8.27 and a 12-month high of $44.99. The firm has a market cap of $2.00 billion, a PE ratio of -9.30 and a beta of 5.84. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16.

Insider Buying and Selling at Pagaya Technologies

In other news, CFO Evangelos Perros sold 14,356 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $37.34, for a total transaction of $536,053.04. Following the sale, the chief financial officer owned 59,079 shares in the company, valued at approximately $2,206,009.86. The trade was a 19.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Sanjiv Das sold 13,304 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $40.62, for a total transaction of $540,408.48. Following the completion of the transaction, the president owned 96,885 shares of the company’s stock, valued at approximately $3,935,468.70. The trade was a 12.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 85,646 shares of company stock valued at $3,108,555. 47.59% of the stock is currently owned by company insiders.

Institutional Trading of Pagaya Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB purchased a new position in Pagaya Technologies during the second quarter valued at $25,000. Versant Capital Management Inc bought a new position in Pagaya Technologies in the 3rd quarter worth about $25,000. Virtus Advisers LLC purchased a new stake in Pagaya Technologies during the 1st quarter valued at about $35,000. LSV Asset Management bought a new stake in Pagaya Technologies during the 3rd quarter valued at about $36,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after buying an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.