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

Pagaya Technologies Ltd. (NASDAQ:PGY) has received a consensus rating of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.25.

Several analysts have issued reports on PGY shares. Citizens Jmp lifted their price target on Pagaya Technologies from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, July 31st. Jefferies Financial Group increased their price objective on Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, TD Cowen assumed coverage on Pagaya Technologies in a research report on Thursday, September 3rd. They set a “buy” rating and a $26.00 price target for the company.

Pagaya Technologies Stock Performance

PGY opened at $22.98 on Tuesday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 16.90 and a beta of 5.35. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 1.12. Pagaya Technologies has a 12 month low of $10.40 and a 12 month high of $44.99. The firm’s fifty day simple moving average is $19.70 and its 200 day simple moving average is $15.50.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, CEO Gal Krubiner bought 16,230 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, June 24th. The stock was acquired at an average price of $15.43 per share, for a total transaction of $250,428.90. Following the completion of the acquisition, the chief executive officer owned 555,906 shares of the company’s stock, valued at $8,577,629.58. This trade represents a 3.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Sanjiv Das sold 21,289 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $22.00, for a total transaction of $468,358.00. Following the completion of the transaction, the president directly owned 144,186 shares of the company’s stock, valued at approximately $3,172,092. This trade represents a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 106,685 shares of company stock worth $2,008,603. Company insiders own 41.99% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PGY. California State Teachers Retirement System increased its holdings in Pagaya Technologies by 1,899.0% during the second quarter. California State Teachers Retirement System now owns 3,561,013 shares of the company’s stock worth $64,988,000 after buying an additional 3,382,876 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after acquiring an additional 1,110,208 shares during the last quarter. Millennium Management LLC grew its position in shares of 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 acquiring an additional 961,944 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Pagaya Technologies by 221.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after acquiring an additional 950,443 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Pagaya Technologies by 1,556.3% during the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock worth $19,952,000 after purchasing an additional 631,435 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.