Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $34.33 Average Price Target from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $34.3333.

Several analysts recently weighed in on PGY shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Tuesday, October 14th. Benchmark reiterated a “buy” rating and set a $48.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 1st. Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 30th. JMP Securities boosted their target price on shares of Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a research report on Monday, August 11th. Finally, B. Riley upped their price target on shares of Pagaya Technologies from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 11th.

Insider Buying and Selling

In related news, CFO Evangelos Perros sold 14,356 shares of Pagaya Technologies stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $37.34, for a total value of $536,053.04. Following the completion of the sale, the chief financial officer owned 59,079 shares in the company, valued at approximately $2,206,009.86. This trade represents a 19.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Sanjiv Das sold 13,304 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $40.62, for a total value of $540,408.48. Following the transaction, the president directly owned 96,885 shares in the company, valued at approximately $3,935,468.70. The trade was a 12.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 95,081 shares of company stock valued at $3,475,010. Company insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Pagaya Technologies by 5,431.3% during the 1st 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 period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pagaya Technologies by 9.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock valued at $130,000 after acquiring an additional 1,094 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Pagaya Technologies by 446.1% in the first quarter. Bank of New York Mellon Corp now owns 482,018 shares of the company’s stock valued at $5,052,000 after acquiring an additional 393,752 shares during the last quarter. CWM LLC increased its holdings in Pagaya Technologies by 79,828.6% in the 1st quarter. CWM LLC now owns 11,190 shares of the company’s stock valued at $117,000 after purchasing an additional 11,176 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in Pagaya Technologies during the 1st quarter worth $246,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Up 4.5%

Shares of PGY opened at $24.45 on Wednesday. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $44.99. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. The stock has a market cap of $1.87 billion, a PE ratio of -6.38 and a beta of 5.83. The business’s 50-day moving average price is $32.35 and its 200-day moving average price is $25.89.

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.