Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $22.11 Consensus Target Price from Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $22.11.

PGY has been the subject of several research reports. 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. B. Riley lowered their price target on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Benchmark reaffirmed a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Finally, Oppenheimer initiated coverage on Pagaya Technologies in a report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price on the stock.

Insider Buying and Selling at Pagaya Technologies

In related news, insider Tami Rosen sold 17,570 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the sale, the insider now directly owns 73,516 shares of the company’s stock, valued at $886,602.96. The trade was a 19.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Yahav Yulzari bought 23,600 shares of Pagaya Technologies stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 186,045 shares of company stock valued at $2,755,982 in the last three months. Corporate insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Several large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Pagaya Technologies in the second quarter valued at approximately $74,000. SG Americas Securities LLC acquired a new stake in shares of Pagaya Technologies during the 2nd quarter worth approximately $101,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 3,181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pagaya Technologies during the 2nd quarter valued at approximately $166,000. Finally, The Manufacturers Life Insurance Company bought a new position in Pagaya Technologies during the 2nd quarter worth $187,000. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Stock Down 1.3 %

Shares of NASDAQ:PGY opened at $10.36 on Wednesday. The stock has a 50-day simple moving average of $11.08 and a 200-day simple moving average of $12.25. The stock has a market capitalization of $763.12 million, a P/E ratio of -4.08 and a beta of 6.33. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $20.50. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

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.