Pagaya Technologies (NASDAQ:PGY) Given New $27.00 Price Target at Keefe, Bruyette & Woods

Pagaya Technologies (NASDAQ:PGY - Get Free Report) had its target price raised by equities researchers at Keefe, Bruyette & Woods from $23.00 to $27.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 15.53% from the stock's current price.

PGY has been the topic of several other reports. Oppenheimer boosted their price target on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. B. Riley restated a "buy" rating and set a $36.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. JMP Securities restated a "market outperform" rating and set a $26.00 price objective on shares of Pagaya Technologies in a report on Tuesday, June 24th. Stephens started coverage on Pagaya Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $22.00 price objective on the stock. Finally, Benchmark restated a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Pagaya Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.45.

Pagaya Technologies Price Performance

Pagaya Technologies stock traded up $1.41 during midday trading on Wednesday, hitting $23.37. The company's stock had a trading volume of 2,300,208 shares, compared to its average volume of 2,044,311. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.82. The stock's 50-day moving average price is $17.26 and its 200-day moving average price is $12.94. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $23.62. The company has a market capitalization of $1.77 billion, a PE ratio of -4.61 and a beta of 5.93.

Insiders Place Their Bets

In other Pagaya Technologies news, CTO Avital Pardo sold 239,989 shares of Pagaya Technologies stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $4,715,783.85. Following the transaction, the chief technology officer owned 802,961 shares of the company's stock, valued at $15,778,183.65. The trade was a 23.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Yahav Yulzari sold 241,160 shares of Pagaya Technologies stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total value 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 trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,345,470 shares of company stock worth $24,118,452. Insiders own 47.59% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PGY. Frontier Capital Management Co. LLC bought a new stake in shares of Pagaya Technologies in the 4th quarter valued at approximately $28,070,000. Millennium Management LLC grew its stake 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 buying an additional 961,944 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Pagaya Technologies by 284.3% in the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock valued at $11,133,000 after buying an additional 886,539 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Pagaya Technologies by 359.6% in the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock valued at $7,675,000 after buying an additional 646,357 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Pagaya Technologies during the first quarter worth approximately $6,465,000. Hedge funds and other institutional investors own 57.14% of the company's stock.

About Pagaya Technologies

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.