Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $37.6250.

PGY has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Benchmark restated a “buy” rating and set a $48.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 1st.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 7,561 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $30.73, for a total transaction of $232,349.53. Following the sale, the insider owned 37,544 shares in the company, valued at approximately $1,153,727.12. This represents a 16.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Evangelos Perros sold 12,754 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $30.20, for a total value of $385,170.80. Following the transaction, the chief financial officer directly owned 78,163 shares of the company’s stock, valued at $2,360,522.60. The trade was a 14.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 40,124 shares of company stock valued at $1,223,716. 47.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGY. Versant Capital Management Inc purchased a new stake in shares of Pagaya Technologies during the third quarter worth about $25,000. MassMutual Private Wealth & Trust FSB acquired a new stake in Pagaya Technologies during the second quarter worth approximately $25,000. LSV Asset Management purchased a new stake in Pagaya Technologies in the 3rd quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd raised its holdings in Pagaya Technologies by 35.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock valued at $42,000 after acquiring an additional 520 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Pagaya Technologies in the 3rd quarter valued at $84,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

PGY stock opened at $22.63 on Thursday. The firm has a 50 day moving average of $24.86 and a 200-day moving average of $27.96. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -8.47 and a beta of 5.84. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16. Pagaya Technologies has a 12-month low of $8.27 and a 12-month high of $44.99.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.