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

Key Points

• Analysts are broadly bullish: Pagaya Technologies has a consensus “Buy” rating from 12 firms, with eight buys, three strong buys and one hold. The average 12-month price target is $31.25, well above the reported opening price of $17.62.
• The stock remains highly volatile: PGY has a beta of 5.35 and has traded between $10.40 and $35.52 over the past year. Its market capitalization is approximately $1.47 billion, with a P/E ratio of 12.96.
• Insiders have recently reduced their holdings: Company executives and directors sold 79,661 shares worth about $1.7 million over the last three months, while insiders still own 41.99% of the company. Institutional investors and hedge funds own 57.14% of shares.

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have earned a consensus rating of "Buy" from the twelve ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.25.

Several equities analysts have issued reports on PGY shares. Texas Capital raised shares of Pagaya Technologies to a "strong-buy" rating in a report on Wednesday, June 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Pagaya Technologies in a research note on Monday, September 14th. TD Cowen started coverage on shares of Pagaya Technologies in a research report on Thursday, September 3rd. They set a "buy" rating and a $26.00 price target for the company. B. Riley Financial raised their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Canaccord Genuity Group lifted their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, July 31st.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $17.62 on Friday. The stock has a market capitalization of $1.47 billion, a P/E ratio of 12.96 and a beta of 5.35. The company's fifty day moving average price is $20.40 and its 200 day moving average price is $16.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. Pagaya Technologies has a 1 year low of $10.40 and a 1 year high of $35.52.

Insider Buying and Selling

In other news, President Sanjiv Das sold 21,289 shares of Pagaya Technologies stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $22.00, for a total value of $468,358.00. Following the sale, the president directly owned 144,186 shares of the company's stock, valued at $3,172,092. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tami Rosen sold 28,181 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $21.98, for a total value of $619,418.38. Following the sale, the director owned 16,665 shares of the company's stock, valued at $366,296.70. The trade was a 62.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 79,661 shares of company stock valued at $1,703,000 in the last three months. Insiders own 41.99% of the company's stock.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Main Management ETF Advisors LLC grew its stake in Pagaya Technologies by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company's stock valued at $1,506,000 after acquiring an additional 736 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company's stock worth $176,000 after purchasing an additional 776 shares in the last quarter. Root Financial Partners LLC purchased a new position in Pagaya Technologies in the 4th quarter worth approximately $27,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Pagaya Technologies by 5.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,903 shares of the company's stock worth $527,000 after purchasing an additional 1,403 shares during the last quarter. Finally, First Bancorp Inc ME acquired a new position in shares of Pagaya Technologies during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 57.14% of the company's stock.

About Pagaya Technologies

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.

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