Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.3333.

A number of research analysts have recently commented on PGY shares. Canaccord Genuity Group increased their price objective on Pagaya Technologies from $28.00 to $36.00 and gave the company a “buy” rating in a report on Monday, August 11th. Citigroup increased their price objective on Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a report on Monday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Tuesday. Oppenheimer raised their price target on Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen cut Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 30th.

Insider Activity

In other news, CFO Evangelos Perros sold 12,754 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $30.20, for a total value of $385,170.80. Following the completion of the sale, the chief financial officer directly owned 78,163 shares of the company’s stock, valued at approximately $2,360,522.60. This represents a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 4,783 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $30.20, for a total value of $144,446.60. Following the completion of the sale, the president directly owned 100,640 shares of the company’s stock, valued at $3,039,328. The trade was a 4.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,081 shares of company stock valued at $3,475,010. 47.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pagaya Technologies

Large investors have recently modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Pagaya Technologies in the second quarter valued at approximately $857,000. Invesco Ltd. lifted its holdings in shares of Pagaya Technologies by 20.5% during the first quarter. Invesco Ltd. now owns 57,875 shares of the company’s stock worth $607,000 after purchasing an additional 9,845 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Pagaya Technologies by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock worth $130,000 after purchasing an additional 1,094 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock worth $46,000 after purchasing an additional 4,345 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Pagaya Technologies by 446.1% during the first quarter. Bank of New York Mellon Corp now owns 482,018 shares of the company’s stock worth $5,052,000 after purchasing an additional 393,752 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Trading Down 4.3%

PGY opened at $26.50 on Friday. Pagaya Technologies has a one year low of $8.20 and a one year high of $44.99. The company has a market cap of $2.03 billion, a P/E ratio of -6.92 and a beta of 5.86. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50-day simple moving average is $34.13 and its 200-day simple moving average is $23.73.

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.