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

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $20.61.

A number of analysts have commented on PGY shares. Benchmark reaffirmed a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. B. Riley reaffirmed a "buy" rating and set a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. JMP Securities upped their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th.

Insiders Place Their Bets

In related news, CTO Avital Pardo sold 237,748 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the transaction, the chief technology officer now directly owns 2,401,528 shares in the company, valued at approximately $36,407,164.48. The trade was a 9.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total transaction of $119,577.15. Following the transaction, the president now owns 105,817 shares in the company, valued at approximately $989,388.95. The trade was a 10.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 519,923 shares of company stock worth $7,870,179. Company insiders own 47.59% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors have recently added to or reduced their stakes in the company. Virtus Advisers LLC acquired a new position in shares of Pagaya Technologies in the first quarter valued at $35,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at $43,000. GAMMA Investing LLC increased its holdings in shares of Pagaya Technologies by 5,431.3% in the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after purchasing an additional 4,345 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at $67,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at $93,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Stock Up 4.5%

Pagaya Technologies stock opened at $17.51 on Friday. The company has a 50-day simple moving average of $12.63 and a 200-day simple moving average of $11.36. The firm has a market capitalization of $1.33 billion, a P/E ratio of -3.18 and a beta of 5.93. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. Pagaya Technologies has a one year low of $8.20 and a one year high of $19.20.

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.

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