Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Pagaya Technologies Ltd. is currently rated as a "Moderate Buy" by nine analysts, with an average 1-year price target of $34.33.
• Recent reports show significant price target increases from various analysts, ranging from $22.00 to $48.00, indicating strong market interest and optimism in the stock.
• Insider trading has been notable, with key executives selling a total of 715,267 shares worth approximately $14.8 million in the last ninety days.

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.3333.

PGY has been the subject of several recent analyst reports. B. Riley upped their target price on shares of Pagaya Technologies from $46.00 to $54.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. Oppenheimer lifted their target price 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. Stephens initiated coverage on Pagaya Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 target price for the company. Finally, JMP Securities increased their price target on Pagaya Technologies from $26.00 to $35.00 and gave the company a "market outperform" rating in a research report on Monday, August 11th.

Insider Transactions at Pagaya Technologies

In related news, CTO Avital Pardo sold 239,989 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $4,715,783.85. Following the transaction, the chief technology officer directly owned 802,961 shares of the company's stock, valued at approximately $15,778,183.65. The trade was a 23.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 13,304 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $40.62, for a total transaction of $540,408.48. Following the completion of the transaction, the president directly owned 96,885 shares in the company, valued at $3,935,468.70. This trade represents a 12.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 744,537 shares of company stock worth $16,238,083. Company insiders own 47.59% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Pagaya Technologies in the 2nd quarter worth about $25,000. Virtus Advisers LLC bought a new stake in Pagaya Technologies in the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd raised its stake in Pagaya Technologies by 35.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company's stock valued at $42,000 after acquiring an additional 520 shares during the period. GAMMA Investing LLC raised its stake in Pagaya Technologies by 5,431.3% in the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after acquiring an additional 4,345 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in Pagaya Technologies in the 4th quarter valued at about $93,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Stock Up 4.4%

NASDAQ PGY traded up $1.86 during mid-day trading on Tuesday, hitting $43.81. The company's stock had a trading volume of 3,486,988 shares, compared to its average volume of 2,732,332. The company's 50 day simple moving average is $32.77 and its 200 day simple moving average is $20.49. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $44.99. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -11.44 and a beta of 5.96.

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.