Pagaya Technologies (NASDAQ:PGY) Raised to Buy at Wall Street Zen

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

Several other research analysts also recently weighed in on the stock. Oppenheimer upped their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. 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. Benchmark upped their target price on shares of Pagaya Technologies from $25.00 to $42.00 and gave the company a "buy" rating in a research note on Friday. Keefe, Bruyette & Woods upped their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, JMP Securities restated a "market outperform" rating and issued a $26.00 target price on shares of Pagaya Technologies in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.15.

Pagaya Technologies Price Performance

Shares of PGY stock opened at $31.12 on Friday. The company has a market capitalization of $2.36 billion, a PE ratio of -6.14 and a beta of 5.93. The firm has a fifty day simple moving average of $19.10 and a 200-day simple moving average of $13.71. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $31.95.

Insider Activity at Pagaya Technologies

In other news, insider Yahav Yulzari sold 241,160 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 3,846,564 shares in the company, valued at approximately $75,584,982.60. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Avital Pardo sold 239,989 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was 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 owned 802,961 shares in the company, 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 1,353,907 shares of company stock valued at $24,585,322 in the last 90 days. 47.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Pagaya Technologies in the 2nd quarter worth about $25,000. Virtus Advisers LLC acquired a new stake in shares of Pagaya Technologies in the 1st quarter worth about $35,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Pagaya Technologies in the 4th quarter worth about $43,000. GAMMA Investing LLC increased its holdings in shares of Pagaya Technologies by 5,431.3% in the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock worth $46,000 after acquiring an additional 4,345 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Pagaya Technologies in the 4th quarter worth about $67,000. 57.14% of the stock is currently owned by institutional investors.

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.

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