Pagaya Technologies (NASDAQ:PGY) Shares Up 10.6% – What’s Next?

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price was up 10.6% during trading on Monday . The stock traded as high as $10.60 and last traded at $10.58. Approximately 1,658,615 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 1,405,856 shares. The stock had previously closed at $9.57.

Wall Street Analyst Weigh In

PGY has been the subject of several recent research reports. B. Riley decreased their price target on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Benchmark restated a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. Wedbush reiterated a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Finally, Oppenheimer initiated coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Pagaya Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Pagaya Technologies Stock Up 3.4 %

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm’s fifty day moving average is $11.08 and its two-hundred day moving average is $12.25.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das sold 10,683 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $11.77, for a total value of $125,738.91. Following the sale, the president now directly owns 64,794 shares of the company’s stock, valued at $762,625.38. This represents a 14.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yahav Yulzari bought 23,600 shares of the company’s stock in a transaction on Monday, September 30th. The stock was bought at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the completion of the purchase, the insider now directly owns 311,637 shares in the company, valued at approximately $3,278,421.24. This represents a 8.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 186,045 shares of company stock valued at $2,755,982 in the last 90 days. Insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC raised its holdings in shares of Pagaya Technologies by 36.2% during the second quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after purchasing an additional 58,939 shares during the last quarter. Yarra Square Partners LP grew its position in shares of Pagaya Technologies by 29.9% in the second 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. Millennium Management LLC boosted its position in Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after acquiring an additional 179,235 shares during the last quarter. Rhumbline Advisers acquired a new position in Pagaya Technologies during the second quarter worth about $781,000. Finally, Bank of New York Mellon Corp purchased a new position in Pagaya Technologies during the second quarter worth about $1,564,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.