Pagaya Technologies (NASDAQ:PGY) Price Target Raised to $25.00 at Oppenheimer

Pagaya Technologies (NASDAQ:PGY) had its price target lifted by Oppenheimer from $16.00 to $25.00 in a report published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Stephens began coverage on Pagaya Technologies in a report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price target for the company. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. JMP Securities restated a “market outperform” rating and set a $26.00 price target on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Finally, B. Riley reiterated a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.94.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $22.18 on Wednesday. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $23.45. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.68 billion, a PE ratio of -4.37 and a beta of 5.93. The business has a 50-day simple moving average of $16.13 and a 200-day simple moving average of $12.49.

Insider Activity

In other news, CTO Avital Pardo sold 54,254 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total value of $1,098,100.96. Following the transaction, the chief technology officer owned 1,042,950 shares in the company, valued at $21,109,308. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tami Rosen sold 10,000 shares of Pagaya Technologies stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total transaction of $202,400.00. Following the sale, the insider directly owned 35,619 shares in the company, valued at approximately $720,928.56. This trade represents a 21.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,299,465 shares of company stock worth $23,090,070 over the last 90 days. 47.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC increased its holdings in shares of Pagaya Technologies by 24.1% in the first quarter. Voya Investment Management LLC now owns 29,452 shares of the company’s stock valued at $309,000 after purchasing an additional 5,723 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Pagaya Technologies by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after buying an additional 359,099 shares in the last quarter. Millennium Management LLC grew its holdings in Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after buying an additional 961,944 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after acquiring an additional 6,365 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Pagaya Technologies by 2,722.3% during the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock worth $3,204,000 after acquiring an additional 294,878 shares during the period. 57.14% of the stock is owned by hedge funds and other institutional investors.

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.