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

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $21.13.

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

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $8.71 on Friday. The stock has a market cap of $641.54 million, a price-to-earnings ratio of -3.43 and a beta of 6.11. The stock’s 50-day moving average is $10.80 and its 200 day moving average is $12.04. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $20.04.

Insider Buying and Selling

In related news, insider Tami Rosen sold 7,659 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $12.00, for a total transaction of $91,908.00. Following the sale, the insider now directly owns 65,857 shares of the company’s stock, valued at $790,284. This trade represents a 10.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Yahav Yulzari bought 23,600 shares of the firm’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 transaction, the insider now owns 311,637 shares in the company, valued at $3,278,421.24. The trade was a 8.19 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 186,045 shares of company stock worth $2,755,982 in the last quarter. Corporate insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. boosted its stake in shares of Pagaya Technologies by 4,374.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after acquiring an additional 304,890 shares during the last quarter. Arizona PSPRS Trust bought a new position in Pagaya Technologies in the 3rd quarter worth $2,183,000. Millennium Management LLC lifted its position in Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after purchasing an additional 179,235 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in Pagaya Technologies during the second quarter valued at about $2,273,000. Finally, Yarra Square Partners LP increased its position in Pagaya Technologies by 29.9% in the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after buying an additional 142,500 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other 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.