Pagaya Technologies Ltd. (NASDAQ:PGY) Stock Has Average Target Price of $31.12

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have received a consensus recommendation of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.12.

A number of research analysts have recently commented on PGY shares. Jefferies Financial Group upped their price target on Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. TD Cowen lowered their price objective on Pagaya Technologies from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Citizens Jmp increased their target price on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, July 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Pagaya Technologies in a research report on Monday, September 14th.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das sold 14,300 shares of Pagaya Technologies stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $17.04, for a total transaction of $243,672.00. Following the completion of the transaction, the president directly owned 173,864 shares of the company’s stock, valued at $2,962,642.56. This trade represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 1,986 shares of the company’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $17.83, for a total transaction of $35,410.38. Following the sale, the director directly owned 13,414 shares in the company, valued at $239,171.62. This represents a 12.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 98,117 shares of company stock worth $2,019,059 over the last three months. Company insiders own 41.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Banque Pictet & Cie SA bought a new position in Pagaya Technologies in the 3rd quarter valued at $219,000. State of Alaska Department of Revenue grew its holdings in shares of Pagaya Technologies by 5.6% during the third quarter. State of Alaska Department of Revenue now owns 22,746 shares of the company’s stock worth $393,000 after purchasing an additional 1,208 shares during the last quarter. GK Wealth Management LLC acquired a new stake in shares of Pagaya Technologies in the third quarter valued at $67,000. Insight Wealth Strategies LLC acquired a new stake in shares of Pagaya Technologies in the third quarter valued at $4,437,000. Finally, Moody National Bank Trust Division raised its holdings in shares of Pagaya Technologies by 20.9% in the third quarter. Moody National Bank Trust Division now owns 36,302 shares of the company’s stock valued at $629,000 after buying an additional 6,277 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Stock Performance

Shares of PGY opened at $19.08 on Wednesday. Pagaya Technologies has a one year low of $10.40 and a one year high of $31.06. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. The company has a market capitalization of $1.59 billion, a PE ratio of 6.01 and a beta of 5.50. The company’s fifty day moving average price is $19.86 and its 200 day moving average price is $17.25.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence and machine learning to help financial institutions expand access to credit and other financial products. Its technology platform analyzes large volumes of data to evaluate assets, identify investment opportunities and support lending decisions.

The company works with banks, lenders and other financial institutions, as well as institutional investors. Through its network-based platform, Pagaya helps partners originate loans and other assets while connecting those assets with institutional funding and capital markets solutions.