Pagaya Technologies (NASDAQ:PGY) Reaches New 52-Week High - What's Next?

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.09 and last traded at $23.86, with a volume of 628497 shares trading hands. The stock had previously closed at $23.69.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Pagaya Technologies from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 price objective on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Wall Street Zen raised Pagaya Technologies from a "hold" rating to a "buy" rating in a research report on Friday. Benchmark upped their price objective on Pagaya Technologies from $25.00 to $42.00 and gave the company a "buy" rating in a research report on Friday. Finally, Oppenheimer upped their price objective on Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.15.

Pagaya Technologies Stock Performance

The firm has a market capitalization of $2.36 billion, a PE ratio of -6.14 and a beta of 5.93. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.82. The business's 50 day simple moving average is $19.10 and its two-hundred day simple moving average is $13.71.

Insider Buying and Selling at Pagaya Technologies

In other news, President Sanjiv Das sold 12,742 shares of the company's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $25.95, for a total value of $330,654.90. Following the completion of the sale, the president directly owned 98,562 shares in the company, valued at $2,557,683.90. This represents a 11.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Avital Pardo sold 54,254 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total value of $1,098,100.96. Following the completion of the sale, the chief technology officer owned 1,042,950 shares of the company's stock, valued at $21,109,308. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,353,907 shares of company stock worth $24,585,322. 47.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Pagaya Technologies in the 2nd quarter worth $25,000. Virtus Advisers LLC purchased a new stake in shares of Pagaya Technologies in the 1st quarter worth $35,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Pagaya Technologies in the 4th quarter worth $43,000. GAMMA Investing LLC increased its stake 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 purchasing an additional 4,345 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Pagaya Technologies in the 4th quarter worth $67,000. 57.14% of the stock is currently owned by hedge funds and other 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.