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

Pagaya Technologies Ltd. (NASDAQ:PGY) has received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $34.3333.

PGY has been the subject of a number of analyst reports. Oppenheimer upped their price objective on Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Citigroup increased their price target on Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 21st. 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 for the company. B. Riley increased their price target on Pagaya Technologies from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Canaccord Genuity Group increased their price target on Pagaya Technologies from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, August 11th.

Pagaya Technologies Trading Up 5.8%

Shares of NASDAQ PGY opened at $41.95 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $3.21 billion, a P/E ratio of -10.95 and a beta of 5.96. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $42.20. The business has a fifty day moving average price of $32.00 and a 200 day moving average price of $20.20.

Insider Buying and Selling

In other Pagaya Technologies news, President Sanjiv Das sold 12,742 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $25.95, for a total value of $330,654.90. Following the completion of the sale, the president directly owned 98,562 shares in the company, valued at approximately $2,557,683.90. This trade represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dan Petrozzo sold 8,484 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $30.15, for a total value of $255,792.60. Following the completion of the sale, the director owned 96,278 shares of the company’s stock, valued at approximately $2,902,781.70. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 715,267 shares of company stock valued at $14,836,630 in the last 90 days. 47.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of Pagaya Technologies by 20.5% in the first quarter. Invesco Ltd. now owns 57,875 shares of the company’s stock valued at $607,000 after purchasing an additional 9,845 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Pagaya Technologies by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock valued at $130,000 after purchasing an additional 1,094 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Pagaya Technologies by 1,249.2% in the fourth quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company’s stock valued at $1,223,000 after purchasing an additional 121,880 shares during the period. Bank of America Corp DE increased its holdings in shares of Pagaya Technologies by 9.7% in the fourth quarter. Bank of America Corp DE now owns 144,097 shares of the company’s stock valued at $1,339,000 after purchasing an additional 12,760 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Pagaya Technologies by 5,431.3% in the first 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. 57.14% of the stock is owned by institutional investors and hedge funds.

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.