Analysts Set Pagaya Technologies Ltd. (NASDAQ:PGY) Price Target at $20.00

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.00.

Several equities research analysts have issued reports on the stock. B. Riley decreased their price objective on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. UBS Group started coverage on Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target for the company. Canaccord Genuity Group reduced their price objective on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Finally, Oppenheimer assumed coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $8.60 on Thursday. The business’s 50-day simple moving average is $10.07 and its 200-day simple moving average is $11.71. The firm has a market capitalization of $633.44 million, a P/E ratio of -3.39 and a beta of 6.12. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $20.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Insider Activity

In related news, President Sanjiv Das sold 10,683 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total transaction of $125,738.91. Following the sale, the president now directly owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This represents a 14.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Yahav Yulzari sold 150,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the transaction, the insider now owns 161,637 shares in the company, valued at $2,505,373.50. This trade represents a 48.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 235,107 shares of company stock worth $3,245,015. 49.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its position in Pagaya Technologies by 4,374.9% during the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after purchasing an additional 304,890 shares during the last quarter. Arizona PSPRS Trust bought a new position in shares of Pagaya Technologies in the third quarter worth about $2,183,000. Millennium Management LLC lifted its position in shares of Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares during the last quarter. Divisadero Street Capital Management LP bought a new stake in Pagaya Technologies during the 2nd quarter valued at approximately $2,273,000. Finally, Yarra Square Partners LP boosted its stake in Pagaya Technologies by 29.9% during the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after purchasing an additional 142,500 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

About Pagaya Technologies

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.