Pagaya Technologies (NASDAQ:PGY) Shares Gap Down - Should You Sell?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $17.13, but opened at $16.40. Pagaya Technologies shares last traded at $16.44, with a volume of 226,108 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on PGY. Canaccord Genuity Group restated a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. JMP Securities increased their price objective on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. B. Riley restated a "buy" rating and set a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Citigroup raised shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $13.00 to $14.50 in a report on Friday, February 7th. Finally, Benchmark reiterated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $20.61.

Pagaya Technologies Stock Performance

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's 50 day moving average is $12.01 and its 200 day moving average is $11.07. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -3.00 and a beta of 5.88.

Insider Activity

In other Pagaya Technologies news, President Sanjiv Das sold 12,789 shares of Pagaya Technologies stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares of the company's stock, valued at $989,388.95. The trade was a 10.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yahav Yulzari sold 238,004 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,608,140.64. Following the sale, the insider now directly owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. This trade represents a 5.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 488,541 shares of company stock valued at $7,331,977. 47.59% of the stock is owned by company insiders.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Pagaya Technologies during the 4th quarter worth $30,000. Virtus Advisers LLC bought a new position in Pagaya Technologies in the first quarter valued at about $35,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Pagaya Technologies during the fourth quarter worth about $43,000. GAMMA Investing LLC raised its stake in Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock worth $46,000 after acquiring an additional 4,345 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in shares of Pagaya Technologies in the fourth quarter worth about $57,000. Institutional investors own 57.14% of the company's stock.

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.