Pagaya Technologies (NASDAQ:PGY) Rating Lowered to Hold at Wall Street Zen

Pagaya Technologies (NASDAQ:PGY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other brokerages have also issued reports on PGY. Oppenheimer lifted their target price on Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. JMP Securities reiterated a "market outperform" rating and issued a $26.00 target price on shares of Pagaya Technologies in a research note on Tuesday, June 24th. Benchmark reaffirmed a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Stephens initiated coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 target price on the stock. Finally, B. Riley reiterated a "buy" rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Pagaya Technologies has an average rating of "Moderate Buy" and a consensus target price of $21.94.

Pagaya Technologies Stock Down 2.0%

PGY stock traded down $0.45 during trading hours on Friday, reaching $21.96. 1,894,784 shares of the stock were exchanged, compared to its average volume of 2,037,006. The firm's 50-day moving average is $16.80 and its 200-day moving average is $12.81. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $23.45. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -4.33 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 Buying and Selling

In other Pagaya Technologies news, insider Yahav Yulzari sold 241,160 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $4,738,794.00. Following the sale, the insider directly owned 3,846,564 shares in the company, valued at $75,584,982.60. This represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Avital Pardo sold 239,989 shares of the firm'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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,345,470 shares of company stock worth $24,118,452 over the last quarter. 47.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PGY. Frontier Capital Management Co. LLC purchased a new position in Pagaya Technologies in the 4th quarter worth approximately $28,070,000. Goldman Sachs Group Inc. raised its position in shares of Pagaya Technologies by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company's stock valued at $17,871,000 after buying an additional 359,099 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock worth $13,230,000 after acquiring an additional 961,944 shares during the last quarter. Point72 Asset Management L.P. grew its position in Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock worth $11,133,000 after acquiring an additional 886,539 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock worth $7,675,000 after acquiring an additional 646,357 shares in the last quarter. Institutional investors own 57.14% of the company's stock.

Pagaya Technologies Company Profile

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.