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

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.13.

A number of equities research analysts have issued reports on PGY shares. JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Oppenheimer began coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $21.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Canaccord Genuity Group cut their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, B. Riley decreased their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, September 30th.

Pagaya Technologies Stock Performance

Shares of PGY opened at $9.64 on Friday. The firm has a market capitalization of $710.04 million, a P/E ratio of -3.80 and a beta of 6.11. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. Pagaya Technologies has a one year low of $8.20 and a one year high of $20.50. The business has a fifty day moving average of $10.85 and a 200 day moving average of $12.11.

Insider Buying and Selling

In related news, insider Yahav Yulzari acquired 23,600 shares of the business’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $10.52 per share, with a total value of $248,272.00. Following the acquisition, the insider now directly owns 311,637 shares in the company, valued at $3,278,421.24. This represents a 8.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tami Rosen sold 17,570 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.06, for a total transaction of $211,894.20. Following the sale, the insider now owns 73,516 shares in the company, valued at approximately $886,602.96. The trade was a 19.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,045 shares of company stock valued at $2,755,982. Company insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PGY. Point72 Asset Management L.P. increased its holdings in shares of Pagaya Technologies by 4,374.9% in the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after purchasing an additional 304,890 shares during the last quarter. Centiva Capital LP purchased a new position in Pagaya Technologies during the 3rd quarter valued at approximately $617,000. ARK Investment Management LLC increased its stake in Pagaya Technologies by 36.2% in the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after acquiring an additional 58,939 shares during the last quarter. Yarra Square Partners LP raised its holdings in shares of Pagaya Technologies by 29.9% during the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after acquiring an additional 142,500 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after acquiring an additional 179,235 shares during the last quarter. 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.