Pagaya Technologies (NASDAQ:PGY) Shares Gap Up Following Insider Buying Activity

Pagaya Technologies Ltd. (NASDAQ:PGY) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $11.14, but opened at $11.63. Pagaya Technologies shares last traded at $11.67, with a volume of 489,925 shares traded.

Specifically, CRO Yahav Yulzari acquired 60,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were acquired at an average cost of $10.17 per share, with a total value of $610,200.00. Following the transaction, the executive now owns 299,699 shares of the company’s stock, valued at approximately $3,047,938.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Pagaya Technologies news, insider Tami Rosen acquired 10,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were acquired at an average cost of $10.47 per share, with a total value of $104,700.00. Following the transaction, the insider now owns 28,818 shares of the company’s stock, valued at approximately $301,724.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Yahav Yulzari purchased 60,000 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were purchased at an average cost of $10.17 per share, for a total transaction of $610,200.00. Following the completion of the acquisition, the executive now directly owns 299,699 shares in the company, valued at $3,047,938.83. The disclosure for this purchase can be found here. Insiders have purchased 194,807 shares of company stock worth $2,012,373 in the last 90 days.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PGY. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price target on shares of Pagaya Technologies in a report on Thursday, February 22nd. Wedbush lowered their price target on Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating on the stock in a report on Friday, March 15th. Jefferies Financial Group began coverage on Pagaya Technologies in a report on Thursday, December 14th. They set a “buy” rating and a $30.00 price target on the stock. Finally, JMP Securities lowered their price target on Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.08.

Pagaya Technologies Stock Down 1.3 %

The company has a market capitalization of $648.96 million, a PE ratio of -5.09 and a beta of 6.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 4.05. The company has a 50-day moving average of $13.31 and a two-hundred day moving average of $15.02.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI lifted its position in Pagaya Technologies by 44.6% during the third quarter. National Bank of Canada FI now owns 45,664 shares of the company’s stock valued at $69,000 after purchasing an additional 14,092 shares in the last quarter. Walleye Capital LLC purchased a new position in Pagaya Technologies during the third quarter valued at $25,000. Geode Capital Management LLC lifted its position in Pagaya Technologies by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 393,923 shares of the company’s stock valued at $488,000 after purchasing an additional 17,818 shares in the last quarter. HighTower Advisors LLC purchased a new position in Pagaya Technologies during the third quarter valued at $29,000. Finally, Pathstone Family Office LLC purchased a new position in Pagaya Technologies during the third quarter valued at $32,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.