Pagaya Technologies (NASDAQ:PGY) Stock Rating Upgraded by Citigroup

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

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Finally, 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 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.06.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $12.50 on Friday. The firm has a market cap of $920.75 million, a PE 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. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average price is $9.59 and its two-hundred day moving average price is $11.16.

Insider Transactions at Pagaya Technologies

In related news, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 54,029 shares in the company, valued at approximately $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 6,343 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $63,239.71. Following the completion of the sale, the president now owns 75,528 shares of the company’s stock, valued at approximately $753,014.16. This represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,323 shares of company stock valued at $674,844 over the last quarter. Corporate insiders own 49.56% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of large investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $30,000. Nisa Investment Advisors LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $57,000. BNP Paribas Financial Markets lifted its stake in shares of 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 buying an additional 3,181 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Pagaya Technologies by 10.9% during 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 acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $114,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.