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

Key Points

• Pagaya Technologies Ltd. has received a consensus recommendation of "Moderate Buy" from nine research firms, with eight analysts issuing buy ratings for the stock.
• The company's stock has experienced significant price target increases, with B. Riley raising its target from $46 to $54 in August.
• Insider transactions revealed that executives sold over 878,000 shares valued at approximately $17.37 million within the last ninety days.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $34.3333.

PGY has been the topic of a number of recent analyst reports. B. Riley lifted their price objective on Pagaya Technologies from $46.00 to $54.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Stephens initiated coverage on shares of Pagaya Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price target on the stock. Benchmark boosted their price target on shares of Pagaya Technologies from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Keefe, Bruyette & Woods boosted their target price on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Oppenheimer boosted their price objective on Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd.

Pagaya Technologies Stock Down 1.7%

Shares of PGY opened at $29.77 on Friday. The company has a market capitalization of $2.28 billion, a PE ratio of -7.77 and a beta of 5.95. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $41.48. The stock's 50-day moving average price is $26.34 and its two-hundred day moving average price is $17.36. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85.

Insiders Place Their Bets

In related news, CTO Avital Pardo sold 239,989 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,715,783.85. Following the transaction, the chief technology officer owned 802,961 shares in the company, valued at $15,778,183.65. The trade was a 23.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yahav Yulzari sold 241,160 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,738,794.00. Following the transaction, the insider owned 3,846,564 shares in the company, valued at $75,584,982.60. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 878,155 shares of company stock valued at $17,372,922 in the last ninety days. 47.59% of the stock is owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in shares of Pagaya Technologies by 177.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,561 shares of the company's stock worth $140,000 after purchasing an additional 4,199 shares during the last quarter. Voleon Capital Management LP purchased a new stake in Pagaya Technologies in the 2nd quarter valued at $353,000. HRT Financial LP raised its position in Pagaya Technologies by 142.6% in the 2nd quarter. HRT Financial LP now owns 223,164 shares of the company's stock valued at $4,757,000 after buying an additional 131,173 shares during the last quarter. G2 Investment Partners Management LLC purchased a new stake in Pagaya Technologies in the 2nd quarter valued at $5,403,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Pagaya Technologies by 405.7% in the second quarter. Engineers Gate Manager LP now owns 158,800 shares of the company's stock valued at $3,386,000 after purchasing an additional 127,399 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other 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.

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