Pagaya Technologies (NASDAQ:PGY) Coverage Initiated by Analysts at Stephens

Stephens assumed coverage on shares of Pagaya Technologies (NASDAQ:PGY - Get Free Report) in a report released on Thursday, MarketBeat reports. The firm set an "overweight" rating and a $22.00 price target on the stock. Stephens' price objective suggests a potential upside of 22.78% from the stock's previous close.

Several other analysts also recently issued reports on PGY. B. Riley reaffirmed a "buy" rating and set a $36.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. 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. JMP Securities increased their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.75.

Pagaya Technologies Stock Performance

Pagaya Technologies stock traded down $0.54 during trading hours on Thursday, reaching $17.92. 1,739,554 shares of the company were exchanged, compared to its average volume of 2,332,974. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.26 and a beta of 5.93. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average of $13.27 and a 200 day moving average of $11.57. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $19.20.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the completion of the transaction, the president now owns 105,817 shares in the company, valued at $989,388.95. This trade represents a 10.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tami Rosen sold 13,814 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $17.68, for a total transaction of $244,231.52. Following the transaction, the insider now owns 38,181 shares of the company's stock, valued at approximately $675,040.08. This represents a 26.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 533,737 shares of company stock worth $8,114,410. Company insiders own 47.59% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtus Advisers LLC acquired a new stake in Pagaya Technologies in the 1st quarter valued at $35,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Pagaya Technologies during the fourth quarter valued at $43,000. GAMMA Investing LLC lifted its holdings in shares of Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after acquiring an additional 4,345 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Pagaya Technologies during the fourth quarter valued at $67,000. Finally, Jefferies Financial Group Inc. bought a new position in Pagaya Technologies during the 4th quarter valued at about $93,000. Institutional investors own 57.14% of the company's stock.

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.