Pagaya Technologies (NASDAQ:PGY) Trading 3.1% Higher

Pagaya Technologies Ltd. (NASDAQ:PGY) was up 3.1% on Wednesday . The stock traded as high as $10.23 and last traded at $10.17. Approximately 113,746 shares changed hands during trading, a decline of 91% from the average daily volume of 1,232,676 shares. The stock had previously closed at $9.86.

Analyst Ratings Changes

Several equities research analysts have commented on PGY shares. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 22nd. Wedbush dropped their price target on Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a research note on Friday, March 15th. Finally, JMP Securities dropped their price target on Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating for the company in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.08.

Pagaya Technologies Stock Down 5.3 %

The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $12.89 and a 200-day moving average price of $14.66.

Insider Activity

In related news, CEO Gal Krubiner bought 33,600 shares of the stock in a transaction dated Thursday, April 4th. The stock was acquired at an average price of $10.36 per share, for a total transaction of $348,096.00. Following the completion of the purchase, the chief executive officer now owns 523,076 shares in the company, valued at $5,419,067.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pagaya Technologies news, CRO Yahav Yulzari acquired 60,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was purchased at an average price of $10.17 per share, for a total transaction of $610,200.00. Following the purchase, the executive now directly owns 299,699 shares in the company, valued at $3,047,938.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gal Krubiner acquired 33,600 shares of the stock in a transaction on Thursday, April 4th. The shares were acquired at an average price of $10.36 per share, with a total value of $348,096.00. Following the purchase, the chief executive officer now owns 523,076 shares in the company, valued at $5,419,067.36. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 194,807 shares of company stock worth $2,012,373. 19.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC bought a new position in Pagaya Technologies during the 4th quarter worth approximately $7,713,000. Yarra Square Partners LP bought a new position in Pagaya Technologies during the 4th quarter worth approximately $4,099,000. Capricorn Fund Managers Ltd lifted its holdings in Pagaya Technologies by 12.6% during the 4th quarter. Capricorn Fund Managers Ltd now owns 1,736,073 shares of the company’s stock worth $2,396,000 after buying an additional 194,073 shares during the last quarter. ARK Investment Management LLC lifted its holdings in Pagaya Technologies by 58.8% during the 4th quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock worth $2,056,000 after buying an additional 551,520 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Pagaya Technologies during the 1st quarter worth approximately $12,686,000. 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.