Pagaya Technologies (NASDAQ:PGY) Rating Lowered to Buy at Wall Street Zen

Pagaya Technologies (NASDAQ:PGY) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts also recently weighed in on PGY. JMP Securities upped their price target on Pagaya Technologies from $26.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $48.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods lifted their price target on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Canaccord Genuity Group boosted their price target on shares of Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Pagaya Technologies Stock Down 0.2%

PGY stock opened at $24.83 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41. The stock has a market capitalization of $2.00 billion, a P/E ratio of -9.30 and a beta of 5.84. Pagaya Technologies has a fifty-two week low of $8.27 and a fifty-two week high of $44.99. The business has a 50-day moving average of $26.56 and a 200-day moving average of $27.44.

Insider Buying and Selling

In other news, President Sanjiv Das sold 13,304 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $40.62, for a total transaction of $540,408.48. Following the transaction, the president directly owned 96,885 shares in the company, valued at $3,935,468.70. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tami Rosen sold 15,026 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $30.73, for a total transaction of $461,748.98. Following the completion of the sale, the insider directly owned 28,181 shares in the company, valued at approximately $866,002.13. The trade was a 34.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 85,646 shares of company stock worth $3,108,555. Insiders own 47.59% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of hedge funds have recently modified their holdings of the stock. Counterpoint Mutual Funds LLC bought a new position in shares of Pagaya Technologies during the second quarter worth approximately $857,000. Invesco Ltd. grew its position in Pagaya Technologies by 20.5% during the first quarter. Invesco Ltd. now owns 57,875 shares of the company’s stock worth $607,000 after buying an additional 9,845 shares in the last quarter. American Century Companies Inc. grew its position in Pagaya Technologies by 214.3% during the second quarter. American Century Companies Inc. now owns 513,782 shares of the company’s stock worth $10,954,000 after buying an additional 350,332 shares in the last quarter. Entropy Technologies LP bought a new position in Pagaya Technologies during the 2nd quarter worth $655,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Pagaya Technologies in the 2nd quarter valued at $1,699,000. Institutional investors and hedge funds 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.