Pagaya Technologies (NASDAQ:PGY) Stock Rating Upgraded by Wall Street Zen

Pagaya Technologies (NASDAQ:PGY) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Citigroup upped their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Stephens initiated coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price objective on the stock. Benchmark upped their price objective on shares of Pagaya Technologies from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Oppenheimer upped their price objective on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Pagaya Technologies has a consensus rating of “Buy” and an average price target of $34.33.

Pagaya Technologies Trading Down 0.7%

Shares of NASDAQ PGY opened at $33.30 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $41.48. The firm has a 50 day moving average price of $25.27 and a two-hundred day moving average price of $16.86. The stock has a market cap of $2.55 billion, a P/E ratio of -8.69 and a beta of 5.95.

Insider Activity at Pagaya Technologies

In related news, President Sanjiv Das sold 31,382 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $17.15, for a total transaction of $538,201.30. Following the transaction, the president directly owned 74,435 shares of the company’s stock, valued at $1,276,560.25. This represents a 29.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yahav Yulzari sold 241,160 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $4,738,794.00. Following the transaction, the insider directly owned 3,846,564 shares in the company, valued at approximately $75,584,982.60. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 878,155 shares of company stock valued at $17,372,922 in the last ninety days. Insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in shares of Pagaya Technologies by 177.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,561 shares of the company’s stock valued at $140,000 after buying an additional 4,199 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of Pagaya Technologies in the second quarter valued at $353,000. HRT Financial LP lifted its stake in shares of Pagaya Technologies by 142.6% in the second quarter. HRT Financial LP now owns 223,164 shares of the company’s stock valued at $4,757,000 after buying an additional 131,173 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in shares of Pagaya Technologies in the second quarter valued at $5,403,000. Finally, Engineers Gate Manager LP lifted its stake in shares of Pagaya Technologies by 405.7% in the second quarter. Engineers Gate Manager LP now owns 158,800 shares of the company’s stock valued at $3,386,000 after buying an additional 127,399 shares in the last quarter. 57.14% of the stock is 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.