Pagaya Technologies (NASDAQ:PGY) Shares Down 4.2%

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s stock price dropped 4.2% on Friday . The company traded as low as $10.98 and last traded at $10.98. Approximately 84,093 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,246,556 shares. The stock had previously closed at $11.46.

Wall Street Analyst Weigh In

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

Pagaya Technologies Stock Down 6.3 %

The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.49. The firm has a market cap of $634.20 million, a P/E ratio of -4.97 and a beta of 6.66. The company's 50 day simple moving average is $13.19 and its 200-day simple moving average is $14.97.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das bought 22,727 shares of the stock in a transaction on Friday, April 5th. The shares were acquired at an average price of $10.57 per share, for a total transaction of $240,224.39. Following the purchase, the president now owns 22,727 shares of the company's stock, valued at $240,224.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Pagaya Technologies news, President Sanjiv Das acquired 22,727 shares of the stock in a transaction dated Friday, April 5th. The shares were purchased at an average price of $10.57 per share, for a total transaction of $240,224.39. Following the purchase, the president now directly owns 22,727 shares of the company's stock, valued at $240,224.39. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CRO Yahav Yulzari acquired 60,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was acquired at an average price of $10.17 per share, for a total transaction of $610,200.00. Following the purchase, the executive now directly owns 299,699 shares in the company, valued at $3,047,938.83. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 194,807 shares of company stock worth $2,012,373. Company insiders own 19.70% 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 company. Walleye Capital LLC bought a new stake in Pagaya Technologies during the 3rd quarter worth approximately $25,000. Wolverine Trading LLC raised its stake in Pagaya Technologies by 279.8% during the 3rd quarter. Wolverine Trading LLC now owns 17,602 shares of the company's stock worth $28,000 after acquiring an additional 27,393 shares during the period. HighTower Advisors LLC bought a new stake in Pagaya Technologies during the 3rd quarter worth approximately $29,000. Osaic Holdings Inc. bought a new stake in Pagaya Technologies during the 2nd quarter worth approximately $29,000. Finally, Prelude Capital Management LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $30,000. Institutional investors own 57.14% of the company's stock.

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.