Pagaya Technologies (NASDAQ:PGY) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Pagaya Technologies (NASDAQ:PGY) from a neutral rating to a buy rating in a research report report published on Friday morning, MarketBeat.com reports. Citigroup currently has $14.50 target price on the stock, up from their prior target price of $13.00.

Other research analysts have also recently issued reports about the stock. Benchmark reaffirmed a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. 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 note on Wednesday, November 13th. Finally, UBS Group started coverage on Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Pagaya Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Pagaya Technologies Trading Up 12.9 %

Pagaya Technologies stock opened at $12.50 on Friday. The business’s fifty day simple moving average is $9.56 and its two-hundred day simple moving average is $11.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $920.75 million, a price-to-earnings ratio of -4.92 and a beta of 6.09. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $20.00.

Insiders Place Their Bets

In related news, insider Yahav Yulzari sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the transaction, the insider now directly owns 161,637 shares of the company’s stock, valued at approximately $2,505,373.50. The trade was a 48.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Evangelos Perros sold 21,305 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $212,410.85. Following the sale, the chief financial officer now owns 54,029 shares in the company, valued at approximately $538,669.13. The trade was a 28.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,323 shares of company stock worth $2,999,844 over the last quarter. 49.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Pagaya Technologies during the 4th quarter worth approximately $30,000. Nisa Investment Advisors LLC purchased a new stake in Pagaya Technologies during the fourth quarter valued at $57,000. BNP Paribas Financial Markets grew its stake in shares of Pagaya Technologies by 48.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after buying an additional 3,181 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Pagaya Technologies by 10.9% in the 4th quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock worth $104,000 after buying an additional 1,092 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Pagaya Technologies during the 4th quarter valued at about $114,000. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Company Profile

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.