Pagaya Technologies (NASDAQ:PGY) Trading Up 4.3% - Should You Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) shares traded up 4.3% during mid-day trading on Thursday . The stock traded as high as $19.01 and last traded at $18.98. 866,160 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,943,131 shares. The stock had previously closed at $18.19.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Benchmark reiterated a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Stephens assumed coverage on shares of Pagaya Technologies in a research note on Thursday. They issued an "overweight" rating and a $22.00 target price for the company. Finally, B. Riley reiterated a "buy" rating and issued a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.75.

Pagaya Technologies Trading Down 2.8%

The business's 50-day moving average price is $13.45 and its 200-day moving average price is $11.63. The firm has a market capitalization of $1.36 billion, a PE ratio of -3.26 and a beta of 5.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 12,789 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the transaction, the president now owns 105,817 shares of the company's stock, valued at approximately $989,388.95. This represents a 10.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Yahav Yulzari sold 238,004 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,608,140.64. Following the transaction, the insider now directly owns 4,346,141 shares of the company's stock, valued at $65,887,497.56. This trade represents a 5.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 533,737 shares of company stock worth $8,114,410 over the last ninety days. 47.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PGY. Virtus Advisers LLC acquired a new position in shares of Pagaya Technologies in the 1st quarter valued at about $35,000. GAMMA Investing LLC boosted its stake in Pagaya Technologies by 5,431.3% during the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after purchasing an additional 4,345 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Pagaya Technologies during the 4th quarter valued at about $43,000. KLP Kapitalforvaltning AS acquired a new position in Pagaya Technologies during the 4th quarter valued at about $67,000. Finally, Jefferies Financial Group Inc. acquired a new position in Pagaya Technologies during the 4th quarter valued at about $93,000. 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.