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

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $22.11.

Several equities research analysts have recently commented on PGY shares. B. Riley reduced their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Canaccord Genuity Group cut their price target on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Pagaya Technologies in a research report on Monday, August 12th. Benchmark reissued a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Finally, JMP Securities reiterated a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Tuesday, September 3rd.

Insider Transactions at Pagaya Technologies

In other news, insider Yahav Yulzari purchased 23,600 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the acquisition, the insider now directly owns 311,637 shares of the company’s stock, valued at approximately $3,278,421.24. This represents a 8.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Sanjiv Das sold 10,683 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total value of $125,738.91. Following the completion of the transaction, the president now owns 64,794 shares of the company’s stock, valued at $762,625.38. The trade was a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,045 shares of company stock valued at $2,755,982 over the last ninety days. Insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently made changes to their positions in PGY. The Manufacturers Life Insurance Company boosted its stake in shares of Pagaya Technologies by 13.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock valued at $176,000 after purchasing an additional 1,937 shares during the period. BNP Paribas Financial Markets grew its stake in Pagaya Technologies by 48.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after purchasing an additional 3,181 shares in the last quarter. nVerses Capital LLC acquired a new stake in Pagaya Technologies in the 2nd quarter valued at about $74,000. SG Americas Securities LLC acquired a new stake in Pagaya Technologies in the 2nd quarter valued at about $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Pagaya Technologies during the second quarter worth about $166,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Performance

PGY stock opened at $9.57 on Wednesday. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $20.50. The firm has a market cap of $704.89 million, a price-to-earnings ratio of -3.77 and a beta of 6.33. The business’s fifty day simple moving average is $11.18 and its two-hundred day simple moving average is $12.27. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

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.