Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) Target Price at $20.00

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.00.

Several analysts have recently commented on PGY shares. B. Riley reduced their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Oppenheimer assumed coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective on the stock. UBS Group started coverage on Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 target price for the company. Benchmark restated a “buy” rating and issued a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Finally, Canaccord Genuity Group cut their price objective on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Insider Activity

In related news, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the sale, the insider now owns 161,637 shares of the company’s stock, valued at $2,505,373.50. This trade 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 is available at the SEC website. Also, President Sanjiv Das sold 10,683 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $11.77, for a total transaction of $125,738.91. Following the completion of the transaction, the president now directly owns 64,794 shares of the company’s stock, valued at $762,625.38. The trade was a 14.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,107 shares of company stock worth $3,245,015 over the last 90 days. 49.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds have recently made changes to their positions in PGY. JPMorgan Chase & Co. lifted its position in Pagaya Technologies by 502.5% during the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock worth $1,610,000 after buying an additional 127,012 shares during the period. Tidal Investments LLC boosted its position in shares of Pagaya Technologies by 4.6% in the third quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after acquiring an additional 1,826 shares during the last quarter. Virtu Financial LLC purchased a new stake in Pagaya Technologies in the third quarter valued at approximately $223,000. Geode Capital Management LLC increased its position in Pagaya Technologies by 7.8% during the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock worth $6,310,000 after purchasing an additional 43,068 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of 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 purchasing an additional 97,135 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Stock Down 1.9 %

Pagaya Technologies stock opened at $8.60 on Thursday. The stock has a market capitalization of $633.44 million, a price-to-earnings ratio of -3.39 and a beta of 6.12. 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 stock has a 50 day moving average of $10.07 and a two-hundred day moving average of $11.71. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $20.00.

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.