Pagaya Technologies (NASDAQ:PGY) Given New $35.00 Price Target at Keefe, Bruyette & Woods

Pagaya Technologies (NASDAQ:PGY) had its price objective reduced by stock analysts at Keefe, Bruyette & Woods from $38.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 58.38% from the stock’s current price.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group boosted their price objective on Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Benchmark restated a “buy” rating and set a $48.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 1st. Finally, Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Pagaya Technologies Trading Up 5.7%

Shares of PGY traded up $1.20 during trading hours on Friday, reaching $22.10. The stock had a trading volume of 1,169,632 shares, compared to its average volume of 2,589,011. The company has a market cap of $1.78 billion, a P/E ratio of -8.26 and a beta of 5.86. Pagaya Technologies has a 52 week low of $8.27 and a 52 week high of $44.99. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average of $24.03 and a 200 day moving average of $28.04.

Insider Buying and Selling

In other news, insider Tami Rosen sold 7,561 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $30.73, for a total transaction of $232,349.53. Following the transaction, the insider directly owned 37,544 shares in the company, valued at $1,153,727.12. The trade was a 16.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PGY. Invesco Ltd. lifted its position in Pagaya Technologies by 20.5% during the first quarter. Invesco Ltd. now owns 57,875 shares of the company’s stock worth $607,000 after acquiring an additional 9,845 shares during the last quarter. Ieq Capital LLC bought a new position in shares of Pagaya Technologies during the first quarter worth approximately $327,000. AQR Capital Management LLC lifted its holdings in Pagaya Technologies by 2,722.3% during the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock worth $3,204,000 after purchasing an additional 294,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock valued at $653,000 after purchasing an additional 6,365 shares during the period. Finally, Millennium Management LLC grew its holdings in Pagaya Technologies by 320.1% in 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. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.