Analysts Set Pagaya Technologies Ltd. (NASDAQ:PGY) Price Target at $37.63

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $37.6250.

Several analysts have issued reports on the company. Wall Street Zen lowered Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Benchmark reissued a “buy” rating and issued a $48.00 price objective on shares of Pagaya Technologies in a research note on Wednesday, October 1st. Finally, Canaccord Genuity Group lifted their target price on shares of Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th.

Pagaya Technologies Trading Down 4.0%

Shares of PGY stock opened at $21.84 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -8.18 and a beta of 5.84. Pagaya Technologies has a 1 year low of $8.27 and a 1 year high of $44.99. The firm has a fifty day moving average price of $24.66 and a 200-day moving average price of $28.02.

Insider Activity

In related news, insider Tami Rosen sold 15,026 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $30.73, for a total value of $461,748.98. Following the transaction, the insider directly owned 28,181 shares of the company’s stock, valued at approximately $866,002.13. The trade was a 34.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Sanjiv Das sold 4,783 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $30.20, for a total transaction of $144,446.60. Following the sale, the president directly owned 100,640 shares of the company’s stock, valued at approximately $3,039,328. This trade represents a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,124 shares of company stock worth $1,223,716 over the last ninety days. Corporate insiders own 47.59% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors have recently bought and sold shares of PGY. JPMorgan Chase & Co. grew its position in shares of Pagaya Technologies by 436.9% during the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after purchasing an additional 1,127,242 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Pagaya Technologies by 1,231.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after buying an additional 1,110,208 shares in the last quarter. Millennium Management LLC raised its position in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after buying an additional 961,944 shares in the last quarter. Marshall Wace LLP grew its position in Pagaya Technologies by 1,556.3% in the third quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock worth $19,952,000 after acquiring an additional 631,435 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Pagaya Technologies by 113.1% during the third quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock worth $32,505,000 after acquiring an additional 581,017 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.