Pagaya Technologies Ltd. (NASDAQ:PGY) Stock Has Consensus Price Target of $31.25

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $31.25.

PGY has been the subject of a number of recent research reports. Citizens Jmp boosted their target price on shares of Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, July 31st. TD Cowen started coverage on Pagaya Technologies in a research note on Thursday, September 3rd. They issued a “buy” rating and a $26.00 target price for the company. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Canaccord Genuity Group increased their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Pagaya Technologies in a research note on Monday, September 14th.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, Director Tami Rosen sold 8,504 shares of the stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $20.38, for a total transaction of $173,311.52. Following the sale, the director directly owned 15,400 shares of the company’s stock, valued at approximately $313,852. This trade represents a 35.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Sanjiv Das sold 13,301 shares of Pagaya Technologies stock in a transaction dated Saturday, September 12th. The shares were sold at an average price of $20.21, for a total value of $268,813.21. Following the transaction, the president owned 154,635 shares of the company’s stock, valued at $3,125,173.35. The trade was a 7.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 79,661 shares of company stock worth $1,703,000. 41.99% of the stock is owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its holdings in Pagaya Technologies by 60.7% in the second quarter. Tidal Investments LLC now owns 78,221 shares of the company’s stock valued at $1,428,000 after acquiring an additional 29,533 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Pagaya Technologies during the 2nd quarter worth approximately $391,000. Engineers Gate Manager LP increased its holdings in shares of Pagaya Technologies by 158.5% during the 2nd quarter. Engineers Gate Manager LP now owns 130,172 shares of the company’s stock valued at $2,376,000 after purchasing an additional 79,810 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Pagaya Technologies during the 2nd quarter valued at approximately $37,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Pagaya Technologies by 614.7% during the 2nd quarter. Squarepoint Ops LLC now owns 252,036 shares of the company’s stock valued at $4,600,000 after purchasing an additional 216,770 shares in the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $17.00 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 12.50 and a beta of 5.35. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 1.12. Pagaya Technologies has a 52-week low of $10.40 and a 52-week high of $35.52. The company’s 50 day moving average is $20.39 and its 200 day moving average is $16.40.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence and data analytics to facilitate access to credit and investment opportunities. Its technology platform evaluates loan and other credit-related assets, helping financial institutions make lending decisions and connect assets with institutional funding sources.

The company’s Pagaya Network is designed to integrate with banks, fintech companies and other originators. Through the network, Pagaya analyzes consumer credit, personal loan, auto loan and real estate-related assets, among other products, and helps distribute qualifying assets to institutional investors through structured financial vehicles.

Pagaya was founded in 2016 and is headquartered in New York, with roots in Israel.