Pagaya Technologies (NASDAQ:PGY) Share Price Breaks Above Fifty Day Moving Average – Should You Sell?

Pagaya Technologies Ltd. (NASDAQ:PGY) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $19.76 and traded as high as $19.86. Pagaya Technologies shares last traded at $19.77, with a volume of 1,656,157 shares.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PGY shares. Jefferies Financial Group boosted their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Citizens Jmp upped their target price on shares of Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. TD Cowen decreased their price target on shares of Pagaya Technologies from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. B. Riley Financial lifted their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Pagaya Technologies in a research report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of “Buy” and an average price target of $31.12.

Pagaya Technologies Price Performance

The stock has a 50 day simple moving average of $19.76 and a 200-day simple moving average of $16.65. The firm has a market cap of $1.65 billion, a PE ratio of 14.54 and a beta of 5.50.

Insider Buying and Selling at Pagaya Technologies

In related news, Director Tami Rosen sold 1,986 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $17.83, for a total transaction of $35,410.38. Following the completion of the transaction, the director directly owned 13,414 shares in the company, valued at approximately $239,171.62. The trade was a 12.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Sanjiv Das sold 14,300 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $17.04, for a total transaction of $243,672.00. Following the completion of the sale, the president directly owned 173,864 shares of the company’s stock, valued at $2,962,642.56. This represents a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 98,117 shares of company stock valued at $2,019,059. Company insiders own 41.99% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently bought and sold shares of PGY. Allspring Global Investments Holdings LLC lifted its holdings in Pagaya Technologies by 141.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock worth $12,040,000 after purchasing an additional 602,992 shares in the last quarter. Q Global Advisors LLC boosted its stake in Pagaya Technologies by 324.8% in the 1st quarter. Q Global Advisors LLC now owns 537,551 shares of the company’s stock worth $6,262,000 after purchasing an additional 410,996 shares during the period. Edgestream Partners L.P. boosted its stake in Pagaya Technologies by 353.2% in the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock worth $4,354,000 after purchasing an additional 291,291 shares during the period. Insight Wealth Strategies LLC bought a new position in Pagaya Technologies in the 3rd quarter worth approximately $4,437,000. Finally, Principal Financial Group Inc. grew its holdings in Pagaya Technologies by 211.0% during the 1st quarter. Principal Financial Group Inc. now owns 375,212 shares of the company’s stock valued at $4,371,000 after buying an additional 254,550 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence and machine learning to help financial institutions expand access to credit and other financial products. Its technology platform analyzes large volumes of data to evaluate assets, identify investment opportunities and support lending decisions.

The company works with banks, lenders and other financial institutions, as well as institutional investors. Through its network-based platform, Pagaya helps partners originate loans and other assets while connecting those assets with institutional funding and capital markets solutions.