Analysts Set Pagaya Technologies Ltd. (NASDAQ:PGY) Target Price at $38.08

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $38.08.

PGY has been the subject of a number of research analyst reports. Wedbush dropped their target price on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a report on Friday, March 15th. JMP Securities reduced their price objective on Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating for the company in a report on Monday, April 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Pagaya Technologies in a report on Thursday, February 22nd.

Pagaya Technologies Stock Performance

NASDAQ:PGY opened at $10.50 on Friday. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. Pagaya Technologies has a fifty-two week low of $8.56 and a fifty-two week high of $33.96. The firm’s fifty day simple moving average is $11.22 and its 200-day simple moving average is $14.01. The stock has a market cap of $55.13 million, a PE ratio of -4.86 and a beta of 6.55.

Insider Buying and Selling at Pagaya Technologies

In other news, President Sanjiv Das bought 22,727 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average price of $10.57 per share, with a total value of $240,224.39. Following the purchase, the president now owns 22,727 shares of the company’s stock, valued at approximately $240,224.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pagaya Technologies news, insider Tami Rosen bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the completion of the purchase, the insider now owns 28,818 shares of the company’s stock, valued at approximately $301,724.46. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Sanjiv Das purchased 22,727 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $240,224.39. Following the completion of the purchase, the president now owns 22,727 shares in the company, valued at approximately $240,224.39. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 194,807 shares of company stock worth $2,012,373.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates boosted its holdings in Pagaya Technologies by 43.5% in the third quarter. Raymond James & Associates now owns 131,967 shares of the company’s stock valued at $209,000 after acquiring an additional 40,000 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of Pagaya Technologies in the 3rd quarter worth about $32,000. NewEdge Wealth LLC acquired a new position in shares of Pagaya Technologies in the 3rd quarter valued at about $751,000. Fermata Advisors LLC acquired a new stake in Pagaya Technologies during the 3rd quarter worth approximately $38,000. Finally, Deuterium Capital Management LLC purchased a new position in Pagaya Technologies in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.