Pagaya Technologies’ (PGY) Market Outperform Rating Reaffirmed at JMP Securities

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $26.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 32.07% from the stock’s current price.

PGY has been the subject of a number of other reports. Stephens started coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price objective for the company. B. Riley reissued a “buy” rating and issued a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, Benchmark reaffirmed a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Pagaya Technologies Stock Performance

PGY opened at $19.69 on Tuesday. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $19.78. The firm has a market capitalization of $1.49 billion, a PE ratio of -3.86 and a beta of 5.94. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79. The business’s 50-day simple moving average is $14.54 and its 200 day simple moving average is $11.98.

Insider Buying and Selling

In other Pagaya Technologies news, insider Yahav Yulzari sold 238,004 shares of Pagaya Technologies stock in a transaction dated 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 sale, the insider now owns 4,346,141 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, President Sanjiv Das sold 12,789 shares of the business’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the sale, the president now owns 105,817 shares in the company, valued at $989,388.95. This represents a 10.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 701,195 shares of company stock valued at $11,264,963 over the last quarter. Insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Frontier Capital Management Co. LLC purchased a new position in shares of Pagaya Technologies in the fourth quarter worth $28,070,000. Goldman Sachs Group Inc. boosted its position in shares of Pagaya Technologies by 26.7% during the first 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 in the last quarter. Millennium Management LLC boosted its holdings in shares of 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 buying an additional 961,944 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $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% in the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock worth $7,675,000 after purchasing an additional 646,357 shares in the last quarter. 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.