Investment analysts at Stephens started coverage on shares of Pagaya Technologies (NASDAQ:PGY - Get Free Report) in a research note issued on Thursday, MarketBeat.com reports. The firm set an "overweight" rating and a $22.00 price target on the stock. Stephens' price target points to a potential upside of 22.63% from the company's previous close.
Several other brokerages also recently weighed in on PGY. Canaccord Genuity Group reaffirmed a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th. B. Riley reissued a "buy" rating and set a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities raised their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Finally, Benchmark restated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.75.
Read Our Latest Stock Report on PGY
Pagaya Technologies Stock Performance
NASDAQ PGY traded down $0.52 during trading hours on Thursday, reaching $17.94. The stock had a trading volume of 2,079,983 shares, compared to its average volume of 1,960,334. The stock has a fifty day moving average of $13.45 and a 200 day moving average of $11.63. The stock has a market cap of $1.36 billion, a P/E ratio of -3.26 and a beta of 5.93. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $19.20. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.
Insider Activity at Pagaya Technologies
In other Pagaya Technologies news, insider Yahav Yulzari sold 238,004 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,608,140.64. Following the sale, the insider now directly owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Avital Pardo sold 237,748 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,604,259.68. Following the sale, the chief technology officer now owns 2,401,528 shares in the company, valued at approximately $36,407,164.48. The trade was a 9.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 533,737 shares of company stock worth $8,114,410 over the last three months. 47.59% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Pagaya Technologies
Several hedge funds have recently modified their holdings of PGY. Goldman Sachs Group Inc. grew its stake in 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 purchasing an additional 359,099 shares in the last quarter. Millennium Management LLC grew its position in shares of Pagaya Technologies by 320.1% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company's stock worth $653,000 after acquiring an additional 6,365 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Pagaya Technologies by 2,722.3% in the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company's stock worth $3,204,000 after acquiring an additional 294,878 shares in the last quarter. Finally, PDT Partners LLC grew its position in shares of Pagaya Technologies by 506.2% in the 1st quarter. PDT Partners LLC now owns 218,168 shares of the company's stock worth $2,286,000 after acquiring an additional 182,177 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.
About Pagaya Technologies
(
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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