Pagaya Technologies (NASDAQ:PGY) Shares Up 10.6% – What’s Next?

Pagaya Technologies Ltd. (NASDAQ:PGY) shot up 10.6% during trading on Monday . The stock traded as high as $10.60 and last traded at $10.58. 1,658,615 shares were traded during trading, an increase of 18% from the average session volume of 1,405,856 shares. The stock had previously closed at $9.57.

Analyst Upgrades and Downgrades

Several research firms have commented on PGY. JMP Securities reiterated a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Canaccord Genuity Group decreased their price target on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. B. Riley cut their price objective on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Pagaya Technologies in a research report on Monday, August 12th. Finally, Oppenheimer started coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

Pagaya Technologies Price Performance

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm’s fifty day moving average price is $11.08 and its 200-day moving average price is $12.25.

Insider Buying and Selling at Pagaya Technologies

In other news, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the completion of the sale, the insider now directly owns 161,637 shares of the company’s stock, valued at approximately $2,505,373.50. This represents a 48.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tami Rosen sold 17,570 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the transaction, the insider now directly owns 73,516 shares of the company’s stock, valued at approximately $886,602.96. This trade represents a 19.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,045 shares of company stock valued at $2,755,982. 49.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors have recently modified their holdings of the stock. State Street Corp lifted its stake in Pagaya Technologies by 14.6% in the 3rd quarter. State Street Corp now owns 763,823 shares of the company’s stock valued at $8,074,000 after acquiring an additional 97,135 shares in the last quarter. Yarra Square Partners LP grew its holdings in Pagaya Technologies by 29.9% in the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after buying an additional 142,500 shares in the last quarter. Geode Capital Management LLC grew its holdings in Pagaya Technologies by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock valued at $6,310,000 after buying an additional 43,068 shares in the last quarter. FMR LLC lifted its position in shares of Pagaya Technologies by 8.3% during the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock valued at $5,545,000 after acquiring an additional 40,031 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Pagaya Technologies by 4,374.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after acquiring an additional 304,890 shares during the period. 57.14% of the stock is currently 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.