Analysts Set Pagaya Technologies Ltd. (NASDAQ:PGY) PT at $26.70

Key Points

• Pagaya Technologies Ltd. has received a consensus rating of "Moderate Buy" from ten research firms, with eight analysts recommending a buy and two advising to hold.
• The average one-year price target for the stock is $26.70, indicating potential growth in its market value.
• Recent insider activity includes significant stock sales by President Sanjiv Das and another insider, resulting in a 29.66% and 5.90% decrease in their holdings, respectively.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $26.70.

PGY has been the topic of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and set a $26.00 target price on shares of Pagaya Technologies in a report on Tuesday, June 24th. Citigroup raised their price target on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods raised their price target on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Stephens began coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price target on the stock. Finally, Oppenheimer raised their price target on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd.

Pagaya Technologies Stock Performance

Shares of Pagaya Technologies stock traded up $0.72 on Monday, reaching $30.66. 983,213 shares of the company traded hands, compared to its average volume of 2,480,400. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $34.29. The company has a 50 day moving average of $21.77 and a 200 day moving average of $14.91. The firm has a market capitalization of $2.32 billion, a PE ratio of -6.05 and a beta of 5.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.79 and a quick ratio of 1.79.

Insider Transactions at Pagaya Technologies

In related news, insider Tami Rosen sold 13,821 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $21.85, for a total transaction of $301,988.85. Following the completion of the sale, the insider directly owned 35,619 shares in the company, valued at approximately $778,275.15. The trade was a 27.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dan Petrozzo sold 8,484 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $30.15, for a total transaction of $255,792.60. Following the completion of the transaction, the director owned 96,278 shares of the company's stock, valued at approximately $2,902,781.70. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,353,907 shares of company stock valued at $24,585,322. Company insiders own 47.59% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently modified their holdings of PGY. MassMutual Private Wealth & Trust FSB bought a new position in shares of Pagaya Technologies in the second quarter worth approximately $25,000. Virtus Advisers LLC bought a new position in shares of Pagaya Technologies in the first quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company's stock worth $42,000 after purchasing an additional 520 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Pagaya Technologies in the fourth quarter worth $43,000. Finally, GAMMA Investing LLC raised its stake in Pagaya Technologies by 5,431.3% during 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 in the last quarter. 57.14% of the stock is currently owned by institutional investors.

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.