Pagaya Technologies (NASDAQ:PGY) Shares Gap Up to $11.14

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $11.14, but opened at $11.63. Pagaya Technologies shares last traded at $11.67, with a volume of 489,925 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PGY. JMP Securities dropped their price objective on Pagaya Technologies from $30.00 to $25.00 and set a "market outperform" rating for the company in a report on Monday. Wedbush dropped their price objective on Pagaya Technologies from $18.00 to $11.50 and set a "neutral" rating for the company in a report on Friday, March 15th. Jefferies Financial Group began coverage on Pagaya Technologies in a report on Thursday, December 14th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Canaccord Genuity Group restated a "buy" rating and set a $42.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.08.

Pagaya Technologies Price Performance

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 stock's fifty day simple moving average is $13.39 and its 200-day simple moving average is $15.08. The stock has a market cap of $657.82 million, a P/E ratio of -5.16 and a beta of 6.67.

Insiders Place Their Bets

In other Pagaya Technologies news, CRO Yahav Yulzari bought 60,000 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were purchased at an average price of $10.17 per share, with a total value of $610,200.00. Following the completion of the acquisition, the executive now directly owns 299,699 shares of the company's stock, valued at approximately $3,047,938.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pagaya Technologies news, CRO Yahav Yulzari purchased 60,000 shares of the business's stock in a transaction dated Wednesday, April 3rd. The shares were bought at an average price of $10.17 per share, with a total value 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 SEC, which can be accessed through this hyperlink. Also, insider Tami Rosen purchased 10,000 shares of the business's stock in a transaction dated Friday, April 5th. The shares were acquired at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the acquisition, the insider now owns 28,818 shares of the company's stock, valued at approximately $301,724.46. The disclosure for this purchase can be found here. Insiders have acquired 194,807 shares of company stock valued at $2,012,373 over the last quarter.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds have recently made changes to their positions in the business. Walleye Capital LLC bought a new stake in Pagaya Technologies during the third quarter worth approximately $25,000. Wolverine Trading LLC raised its holdings in Pagaya Technologies by 279.8% during the third quarter. Wolverine Trading LLC now owns 17,602 shares of the company's stock worth $28,000 after purchasing an additional 27,393 shares in the last quarter. HighTower Advisors LLC bought a new stake in Pagaya Technologies during the third quarter worth approximately $29,000. Osaic Holdings Inc. bought a new stake in Pagaya Technologies during the second quarter worth approximately $29,000. Finally, Prelude Capital Management LLC bought a new stake in Pagaya Technologies during the fourth quarter worth approximately $30,000. 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.