Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $34.33 Consensus PT 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.

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $34.3333.

Several equities analysts have issued reports on the stock. Oppenheimer increased their price objective on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Stephens assumed coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $22.00 price objective on the stock. Canaccord Genuity Group increased their price objective on shares of Pagaya Technologies from $28.00 to $36.00 and gave the company a "buy" rating in a report on Monday, August 11th. Citigroup increased their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, B. Riley increased their price objective on shares of Pagaya Technologies from $46.00 to $54.00 and gave the company a "buy" rating in a report on Monday, August 11th.

Pagaya Technologies Stock Performance

NASDAQ PGY traded up $0.23 during mid-day trading on Friday, reaching $34.71. 2,949,469 shares of the stock were exchanged, compared to its average volume of 3,988,713. The business's 50 day moving average is $27.60 and its 200-day moving average is $18.00. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $41.48. The company has a market capitalization of $2.66 billion, a P/E ratio of -9.06 and a beta of 5.95. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 239,989 shares of the 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 directly owned 802,961 shares of the company's stock, valued at $15,778,183.65. This trade represents a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Yahav Yulzari sold 241,160 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,738,794.00. Following the transaction, the insider directly owned 3,846,564 shares in the company, valued at approximately $75,584,982.60. The trade was a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 878,155 shares of company stock valued at $17,372,922. 47.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Pagaya Technologies in the second quarter valued at about $25,000. Virtus Advisers LLC acquired a new stake in shares of Pagaya Technologies in the first quarter valued at about $35,000. Caitong International Asset Management Co. Ltd raised 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 valued at $42,000 after buying an additional 520 shares during the last quarter. GAMMA Investing LLC raised its position 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 buying an additional 4,345 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $93,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.