Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $23.00 to $27.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Pagaya Technologies traded as high as $23.62 and last traded at $23.35, with a volume of 1989855 shares changing hands. The stock had previously closed at $21.96.
Several other analysts have also issued reports on PGY. 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. B. Riley reiterated a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Benchmark reiterated a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Oppenheimer upped their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Stephens initiated coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $22.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Pagaya Technologies presently has an average rating of "Moderate Buy" and an average target price of $22.45.
View Our Latest Stock Report on Pagaya Technologies
Insider Buying and Selling at Pagaya Technologies
In other news, insider Tami Rosen sold 13,821 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $21.85, for a total value of $301,988.85. Following the sale, the insider directly owned 35,619 shares of the company's stock, valued at approximately $778,275.15. This represents 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, CTO Avital Pardo sold 54,254 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total transaction of $1,098,100.96. Following the completion of the sale, the chief technology officer directly owned 1,042,950 shares in the company, valued at approximately $21,109,308. The trade was a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,345,470 shares of company stock valued at $24,118,452. Insiders own 47.59% of the company's stock.
Institutional Investors Weigh In On Pagaya Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of Pagaya Technologies by 1.8% in the fourth quarter. Invesco Ltd. now owns 48,030 shares of the company's stock worth $446,000 after buying an additional 864 shares in the last quarter. Arizona State Retirement System raised its stake in Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock valued at $104,000 after purchasing an additional 1,092 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Pagaya Technologies by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company's stock valued at $130,000 after purchasing an additional 1,094 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Pagaya Technologies in the second quarter valued at approximately $25,000. Finally, Swiss National Bank raised its stake in Pagaya Technologies by 1.7% in the first quarter. Swiss National Bank now owns 76,883 shares of the company's stock valued at $806,000 after purchasing an additional 1,300 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.
Pagaya Technologies Price Performance
The business's 50 day moving average is $17.73 and its two-hundred day moving average is $13.14. The firm has a market capitalization of $1.74 billion, a PE ratio of 38.35 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.
Pagaya Technologies Company Profile
(
Get Free Report)
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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