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

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $20.00.

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group cut their target price on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. UBS Group assumed coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective for the company. Oppenheimer started coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $21.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Finally, B. Riley cut their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.

Pagaya Technologies Stock Performance

NASDAQ:PGY opened at $9.08 on Thursday. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $20.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $668.80 million, a PE ratio of -3.57 and a beta of 6.12. The business’s fifty day moving average price is $10.22 and its 200 day moving average price is $11.79.

Insider Buying and Selling at Pagaya Technologies

In other news, insider Tami Rosen sold 21,547 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the transaction, the insider now directly owns 73,550 shares in the company, valued at $733,293.50. The trade was a 22.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the transaction, the insider now directly owns 161,637 shares of the company’s stock, valued at $2,505,373.50. This represents a 48.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,240 shares of company stock valued at $3,246,456 in the last ninety days. Insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGY. Bank of New York Mellon Corp purchased a new stake in shares of Pagaya Technologies in the second quarter valued at approximately $1,564,000. Rhumbline Advisers acquired a new position in shares of Pagaya Technologies during the 2nd quarter worth $781,000. Divisadero Street Capital Management LP purchased a new position in shares of Pagaya Technologies in the 2nd quarter valued at about $2,273,000. Yarra Square Partners LP lifted its stake in shares of Pagaya Technologies by 29.9% in the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after purchasing an additional 142,500 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in Pagaya Technologies by 50.1% during the second quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company’s stock worth $559,000 after buying an additional 14,629 shares in the last quarter. Institutional investors and hedge funds 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.