Pagaya Technologies (NASDAQ:PGY) Shares Down 4%

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s stock price dropped 4% during trading on Monday . The stock traded as low as $9.96 and last traded at $9.98. Approximately 633,917 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,227,163 shares. The stock had previously closed at $10.40.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PGY shares. JMP Securities lowered their price target on shares of Pagaya Technologies from $30.00 to $25.00 and set a "market outperform" rating for the company in a research report on Monday, April 8th. Wedbush lowered their target price on Pagaya Technologies from $18.00 to $11.50 and set a "neutral" rating for the company in a report on Friday, March 15th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $42.00 target price 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.08.

Pagaya Technologies Stock Performance

The firm's 50 day moving average is $12.19 and its 200 day moving average is $14.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.05 and a current ratio of 4.05. The stock has a market cap of $594.04 million, a P/E ratio of -4.66 and a beta of 6.67.

Insiders Place Their Bets

In other Pagaya Technologies news, insider Tami Rosen bought 10,000 shares of Pagaya Technologies stock in a transaction that occurred on Friday, April 5th. The shares were bought at an average cost of $10.47 per share, with a total value of $104,700.00. Following the transaction, the insider now directly owns 28,818 shares of the company's stock, valued at approximately $301,724.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CRO Yahav Yulzari purchased 60,000 shares of the firm's stock in a transaction on Wednesday, April 3rd. The stock was acquired 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tami Rosen acquired 10,000 shares of the stock in a transaction dated Friday, April 5th. The shares were bought at an average price of $10.47 per share, with a total value of $104,700.00. Following the completion of the purchase, the insider now directly owns 28,818 shares of the company's stock, valued at approximately $301,724.46. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 194,807 shares of company stock valued at $2,012,373.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI raised its holdings in shares of Pagaya Technologies by 44.6% during the third quarter. National Bank of Canada FI now owns 45,664 shares of the company's stock worth $69,000 after purchasing an additional 14,092 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Pagaya Technologies by 43.5% in the 3rd quarter. Raymond James & Associates now owns 131,967 shares of the company's stock valued at $209,000 after buying an additional 40,000 shares during the period. Deuterium Capital Management LLC acquired a new position in shares of Pagaya Technologies in the 3rd quarter valued at about $40,000. Fermata Advisors LLC purchased a new stake in shares of Pagaya Technologies in the third quarter worth about $38,000. Finally, NewEdge Wealth LLC acquired a new stake in Pagaya Technologies during the third quarter worth about $751,000. Institutional investors and hedge funds 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.