Pagaya Technologies (NASDAQ:PGY) Stock Price Up 6.3% – What’s Next?

Pagaya Technologies Ltd. (NASDAQ:PGY)’s stock price traded up 6.3% during trading on Wednesday . The stock traded as high as $12.20 and last traded at $12.03. 2,408,708 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 2,014,407 shares. The stock had previously closed at $11.32.

Analyst Ratings Changes

A number of brokerages have weighed in on PGY. Canaccord Genuity Group cut 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. UBS Group began coverage on Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective on the stock. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Pagaya Technologies Stock Up 5.3 %

The company has a market cap of $878.17 million, a price-to-earnings ratio of -4.70 and a beta of 6.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day moving average is $9.65 and its two-hundred day moving average is $11.10.

Insiders Place Their Bets

In related news, insider Tami Rosen sold 9,846 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $12.18, for a total transaction of $119,924.28. Following the completion of the sale, the insider now directly owns 73,550 shares of the company’s stock, valued at approximately $895,839. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $63,239.71. Following the completion of the transaction, the president now directly owns 75,528 shares in the company, valued at approximately $753,014.16. This represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,323 shares of company stock valued at $674,844. Corporate insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Pagaya Technologies by 14.6% in the 3rd quarter. State Street Corp now owns 763,823 shares of the company’s stock worth $8,074,000 after purchasing an additional 97,135 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock valued at $5,810,000 after acquiring an additional 473,063 shares during the period. Geode Capital Management LLC boosted its position in shares of Pagaya Technologies by 7.8% in the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock valued at $6,310,000 after acquiring an additional 43,068 shares during the period. FMR LLC increased its holdings in Pagaya Technologies by 8.3% during the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock worth $5,545,000 after acquiring an additional 40,031 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in Pagaya Technologies by 4,374.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after purchasing an additional 304,890 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

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.