Pagaya Technologies (NASDAQ:PGY) Reaches New 12-Month Low at $8.84

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $8.84 and last traded at $8.90, with a volume of 691767 shares trading hands. The stock had previously closed at $9.45.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PGY. Wedbush reduced their price objective on Pagaya Technologies from $18.00 to $11.50 and set a "neutral" rating on the stock in a research note on Friday, March 15th. JMP Securities reduced their price objective on Pagaya Technologies from $30.00 to $25.00 and set a "market outperform" rating on the stock in a research note on Monday, April 8th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $42.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Pagaya Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $38.08.

Pagaya Technologies Stock Down 4.7 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 4.05. The company has a market capitalization of $532.06 million, a P/E ratio of -4.17 and a beta of 6.66. The stock has a 50-day moving average price of $12.81 and a 200-day moving average price of $14.56.

Insider Transactions at Pagaya Technologies

In related news, CEO Gal Krubiner acquired 33,600 shares of the stock in a transaction dated Thursday, April 4th. The stock was bought at an average cost of $10.36 per share, for a total transaction of $348,096.00. Following the completion of the transaction, the chief executive officer now directly owns 523,076 shares of the company's stock, valued at $5,419,067.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pagaya Technologies news, CRO Yahav Yulzari bought 60,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was acquired at an average cost of $10.17 per share, for a total transaction of $610,200.00. Following the completion of the acquisition, the executive now owns 299,699 shares in the company, valued at approximately $3,047,938.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gal Krubiner bought 33,600 shares of the stock in a transaction on Thursday, April 4th. The stock was acquired at an average price of $10.36 per share, with a total value of $348,096.00. Following the completion of the acquisition, the chief executive officer now owns 523,076 shares of the company's stock, valued at approximately $5,419,067.36. The disclosure for this purchase can be found here. Insiders purchased 194,807 shares of company stock worth $2,012,373 over the last ninety days. 19.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Yarra Square Partners LP bought a new stake in Pagaya Technologies in the fourth quarter worth approximately $4,099,000. Capricorn Fund Managers Ltd grew its stake in Pagaya Technologies by 12.6% in the fourth quarter. Capricorn Fund Managers Ltd now owns 1,736,073 shares of the company's stock valued at $2,396,000 after acquiring an additional 194,073 shares during the period. ARK Investment Management LLC grew its stake in Pagaya Technologies by 58.8% in the fourth quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company's stock valued at $2,056,000 after acquiring an additional 551,520 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Pagaya Technologies in the first quarter valued at approximately $12,686,000. Finally, Quadrature Capital Ltd acquired a new stake in Pagaya Technologies in the fourth quarter valued at approximately $1,079,000. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Company Profile

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.