Pagaya Technologies (NASDAQ:PGY) Coverage Initiated by Analysts at Benchmark

Benchmark initiated coverage on shares of Pagaya Technologies (NASDAQ:PGY) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $21.00 target price on the stock.

Several other research analysts have also recently weighed in on PGY. Citigroup assumed coverage on shares of Pagaya Technologies in a report on Friday, May 24th. They issued a neutral rating and a $14.00 price target for the company. JMP Securities restated a market outperform rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. Keefe, Bruyette & Woods started coverage on Pagaya Technologies in a research note on Monday, June 17th. They issued an outperform rating and a $23.00 target price on the stock. Wedbush reaffirmed a neutral rating and set a $13.00 price target on shares of Pagaya Technologies in a research report on Monday, August 12th. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $42.00 price objective on shares of Pagaya Technologies in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $24.00.

Pagaya Technologies Stock Performance

Shares of Pagaya Technologies stock opened at $13.66 on Monday. The stock’s fifty day simple moving average is $13.33 and its 200 day simple moving average is $12.66. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $968.49 million, a PE ratio of -9.69 and a beta of 6.44. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $29.76.

Insiders Place Their Bets

In related news, CTO Avital Pardo sold 11,601 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the transaction, the chief technology officer now directly owns 433,125 shares of the company’s stock, valued at $6,856,368.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Pagaya Technologies news, Director Nicole Torraco sold 4,743 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.04, for a total transaction of $57,105.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Avital Pardo sold 11,601 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares in the company, valued at approximately $6,856,368.75. The disclosure for this sale can be found here. Insiders have sold 84,239 shares of company stock valued at $1,190,278 in the last 90 days. 19.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PGY. nVerses Capital LLC bought a new stake in shares of Pagaya Technologies during the 2nd quarter worth about $74,000. SG Americas Securities LLC acquired a new stake in Pagaya Technologies during the second quarter worth approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Pagaya Technologies during the second quarter worth approximately $166,000. The Manufacturers Life Insurance Company acquired a new position in shares of Pagaya Technologies in the second quarter valued at approximately $187,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Pagaya Technologies during the first quarter worth approximately $158,000. 57.14% of the stock is owned by institutional investors and hedge funds.

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.