Keefe, Bruyette & Woods Issues Positive Forecast for Pagaya Technologies (NASDAQ:PGY) Stock Price

Pagaya Technologies (NASDAQ:PGY - Get Free Report) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $23.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 15.15% from the stock's current price.

Several other brokerages have also recently weighed in on PGY. JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 price target on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Oppenheimer upped 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. Wall Street Zen lowered shares of Pagaya Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Benchmark reiterated a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, Stephens assumed coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $22.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.45.

Pagaya Technologies Stock Down 0.4%

Shares of PGY traded down $0.10 during mid-day trading on Wednesday, hitting $23.45. The company's stock had a trading volume of 449,671 shares, compared to its average volume of 2,046,396. The company's 50-day moving average is $17.50 and its 200-day moving average is $13.04. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $23.85. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -4.63 and a beta of 5.93. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.82.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari sold 241,160 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,738,794.00. Following the transaction, the insider owned 3,846,564 shares in the company, valued at approximately $75,584,982.60. This represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Avital Pardo sold 239,989 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were 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 in the company, valued at $15,778,183.65. The trade was a 23.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,345,470 shares of company stock worth $24,118,452. 47.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PGY. Frontier Capital Management Co. LLC acquired a new position in Pagaya Technologies during the 4th quarter valued at approximately $28,070,000. Millennium Management LLC increased its stake in shares of Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock worth $13,230,000 after acquiring an additional 961,944 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock worth $11,133,000 after acquiring an additional 886,539 shares during the period. Two Sigma Investments LP increased its stake in shares of Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock worth $7,675,000 after acquiring an additional 646,357 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Pagaya Technologies in the first quarter worth $6,465,000. Institutional investors and hedge funds 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.