Pagaya Technologies (NASDAQ:PGY) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a report issued on Thursday morning,Benzinga reports. They currently have a $25.00 target price on the stock.

A number of other analysts also recently issued reports on PGY. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Finally, UBS Group started coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Pagaya Technologies Price Performance

PGY stock opened at $14.64 on Thursday. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $20.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -5.76 and a beta of 6.09. The business has a fifty day moving average of $9.68 and a two-hundred day moving average of $11.11.

Insider Activity at Pagaya Technologies

In other news, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $15.00, for a total value of $530,535.00. Following the completion of the transaction, the insider now owns 38,181 shares in the company, valued at approximately $572,715. This trade represents a 48.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Evangelos Perros sold 21,305 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $212,410.85. Following the transaction, the chief financial officer now directly owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,692 shares of company stock worth $1,205,379. Corporate insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Pagaya Technologies in the 4th quarter valued at approximately $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Pagaya Technologies during the fourth quarter worth $43,000. Nisa Investment Advisors LLC purchased a new position in Pagaya Technologies in the fourth quarter valued at $57,000. KLP Kapitalforvaltning AS acquired a new stake in Pagaya Technologies in the fourth quarter valued at $67,000. Finally, BNP Paribas Financial Markets lifted its holdings in Pagaya Technologies by 48.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after buying an additional 3,181 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.