Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Rating of “Moderate Buy” by Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.75.

PGY has been the topic of a number of research reports. Stephens initiated coverage on shares of Pagaya Technologies in a research note on Thursday. They issued an “overweight” rating and a $22.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. B. Riley reissued a “buy” rating and issued a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. JMP Securities raised their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $18.46 on Friday. The company’s fifty day moving average price is $13.27 and its 200 day moving average price is $11.57. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $19.20. The company has a market capitalization of $1.40 billion, a PE ratio of -3.36 and a beta of 5.93. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

Insider Activity at Pagaya Technologies

In related news, insider Yahav Yulzari sold 238,004 shares of Pagaya Technologies stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.16, for a total value of $3,608,140.64. Following the completion of the transaction, the insider now owns 4,346,141 shares in the company, valued at $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Avital Pardo sold 237,748 shares of Pagaya Technologies 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 $3,604,259.68. Following the completion of the transaction, the chief technology officer now owns 2,401,528 shares of the company’s stock, valued at $36,407,164.48. This represents a 9.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 533,737 shares of company stock worth $8,114,410. Corporate insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Virtus Advisers LLC purchased a new position in Pagaya Technologies in the first quarter worth approximately $35,000. GAMMA Investing LLC lifted its stake in Pagaya Technologies by 5,431.3% in 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 during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Pagaya Technologies during the 4th quarter worth approximately $43,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pagaya Technologies during the 4th quarter worth approximately $67,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Pagaya Technologies during the 4th quarter worth approximately $93,000. Hedge funds and other 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.