Pagaya Technologies (NASDAQ:PGY) Stock Price Expected to Rise, JMP Securities Analyst Says

Key Points

• JMP Securities raised the price target for Pagaya Technologies (NASDAQ: PGY) from $26.00 to $35.00, indicating a potential upside of 22.08% from the current price.
• Multiple analysts now rate Pagaya Technologies a "buy," with a consensus target price of $30.40, reflecting positive sentiment among research firms.
• Insider transactions revealed significant selling activity, with a combined total of over 878,000 shares sold in recent months, impacting investor perception of insider confidence.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) had its price target lifted by stock analysts at JMP Securities from $26.00 to $35.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price target would suggest a potential upside of 22.08% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen raised Pagaya Technologies from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Stephens initiated coverage on Pagaya Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $22.00 price target on the stock. Benchmark upped their price target on Pagaya Technologies from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Friday. Citigroup upped their price target on Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Oppenheimer upped their price target 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 research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.40.

Pagaya Technologies Stock Down 6.4%

Shares of Pagaya Technologies stock opened at $28.67 on Monday. The stock's fifty day moving average is $23.78 and its 200-day moving average is $16.06. The firm has a market capitalization of $2.17 billion, a PE ratio of -7.49 and a beta of 5.95. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. Pagaya Technologies has a 12-month low of $8.20 and a 12-month high of $41.48.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 31,382 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.15, for a total value of $538,201.30. Following the transaction, the president owned 74,435 shares in the company, valued at $1,276,560.25. The trade was a 29.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tami Rosen sold 14,645 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $22.57, for a total value of $330,537.65. Following the sale, the insider owned 49,440 shares of the company's stock, valued at approximately $1,115,860.80. This trade represents a 22.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 878,155 shares of company stock worth $17,372,922. 47.59% of the stock is owned by company insiders.

Institutional Trading of Pagaya Technologies

Several large investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter worth about $28,070,000. Goldman Sachs Group Inc. boosted 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 during the period. Millennium Management LLC boosted its stake in Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock valued at $13,230,000 after purchasing an additional 961,944 shares during the period. Point72 Asset Management L.P. boosted its stake in Pagaya Technologies by 284.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock valued at $11,133,000 after purchasing an additional 886,539 shares during the period. Finally, Two Sigma Investments LP boosted its stake in Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock valued at $7,675,000 after purchasing an additional 646,357 shares during the period. 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.

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