Pagaya Technologies (NASDAQ:PGY) Price Target Raised to $25.00 at Oppenheimer

Pagaya Technologies (NASDAQ:PGY - Free Report) had its target price boosted by Oppenheimer from $16.00 to $25.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on PGY. Stephens began coverage on Pagaya Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price target on the stock. Benchmark restated a "buy" rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley reiterated a "buy" rating and issued a $36.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Finally, JMP Securities reissued a "market outperform" rating and set a $26.00 price target on shares of Pagaya Technologies in a research report on Tuesday, June 24th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.94.

Pagaya Technologies Trading Down 1.8%

PGY stock traded down $0.41 during trading on Wednesday, reaching $22.18. The company had a trading volume of 4,442,841 shares, compared to its average volume of 2,014,532. The business has a 50 day moving average of $15.89 and a 200 day moving average of $12.42. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $1.68 billion, a P/E ratio of 37.65 and a beta of 5.93. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $23.46.

Insider Activity

In other Pagaya Technologies news, insider Tami Rosen sold 13,814 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $17.68, for a total value of $244,231.52. Following the completion of the transaction, the insider owned 38,181 shares of the company's stock, valued at approximately $675,040.08. The trade was a 26.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yahav Yulzari sold 241,160 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $4,738,794.00. Following the transaction, the insider owned 3,846,564 shares in the company, valued at $75,584,982.60. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,299,465 shares of company stock valued at $23,090,070 in the last quarter. Insiders own 47.59% of the company's stock.

Institutional Trading of Pagaya Technologies

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in Pagaya Technologies by 14.7% in the fourth quarter. Rhumbline Advisers now owns 75,620 shares of the company's stock valued at $703,000 after acquiring an additional 9,674 shares during the period. IFP Advisors Inc lifted its stake in shares of Pagaya Technologies by 80.7% in the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company's stock worth $123,000 after purchasing an additional 5,925 shares during the period. Arizona State Retirement System boosted its holdings in shares of Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company's stock worth $104,000 after buying an additional 1,092 shares during the last quarter. Swiss National Bank grew its position in shares of Pagaya Technologies by 8.9% during the 4th quarter. Swiss National Bank now owns 75,583 shares of the company's stock valued at $702,000 after acquiring an additional 6,200 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in Pagaya Technologies by 21.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 22,828 shares of the company's stock worth $212,000 after purchasing an additional 3,965 shares during the period. 57.14% of the stock is currently owned by institutional investors.

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.