Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $20.61 Consensus Price Target from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.61.

Several brokerages recently issued reports on PGY. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. B. Riley reissued a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. JMP Securities increased their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Finally, Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $14.50 in a research report on Friday, February 7th.

Insider Buying and Selling

In related news, CTO Avital Pardo sold 237,748 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the completion of the sale, the chief technology officer now owns 2,401,528 shares of the company’s stock, valued at approximately $36,407,164.48. This represents a 9.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Sanjiv Das sold 12,789 shares of the firm’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total transaction of $119,577.15. Following the completion of the transaction, the president now owns 105,817 shares in the company, valued at $989,388.95. The trade was a 10.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 488,541 shares of company stock valued at $7,331,977. Insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Pagaya Technologies by 502.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock valued at $1,610,000 after acquiring an additional 127,012 shares during the period. IFP Advisors Inc increased its holdings in Pagaya Technologies by 80.7% in the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock valued at $123,000 after purchasing an additional 5,925 shares in the last quarter. Barclays PLC purchased a new position in Pagaya Technologies in the fourth quarter valued at about $595,000. Rhumbline Advisers lifted its stake in shares of Pagaya Technologies by 14.7% during the fourth quarter. Rhumbline Advisers now owns 75,620 shares of the company’s stock worth $703,000 after purchasing an additional 9,674 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies during the fourth quarter worth about $57,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

PGY stock opened at $14.55 on Wednesday. The firm has a 50 day moving average of $11.28 and a 200-day moving average of $10.87. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -2.65 and a beta of 5.88. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a 12-month low of $8.20 and a 12-month high of $19.20.

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.