Analysts Set Pagaya Technologies Ltd. (NASDAQ:PGY) Target Price at $34.50

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been assigned a consensus recommendation of “Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and three 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 $34.50.

PGY has been the topic of several research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Pagaya Technologies in a research report on Monday, May 18th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $15.09 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 14.10 and a beta of 5.35. Pagaya Technologies has a one year low of $10.40 and a one year high of $44.99. The company has a 50 day moving average price of $14.22 and a 200 day moving average price of $16.19.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The company had revenue of $91.63 million during the quarter. Sell-side analysts anticipate that Pagaya Technologies will post 2.92 EPS for the current year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 13,309 shares of Pagaya Technologies stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $216,005.07. Following the transaction, the president directly owned 154,475 shares of the company’s stock, valued at $2,507,129.25. The trade was a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,720 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.14, for a total transaction of $147,160.80. Following the sale, the director owned 37,544 shares of the company’s stock, valued at approximately $568,416.16. This represents a 20.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 55,412 shares of company stock worth $822,542. 47.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Several large investors have recently added to or reduced their stakes in PGY. Root Financial Partners LLC acquired a new position in shares of Pagaya Technologies during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd grew its stake in shares of Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after buying an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $30,000. Quarry LP raised its holdings in shares of Pagaya Technologies by 330.8% during the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after buying an additional 1,277 shares during the period. Finally, LSV Asset Management purchased a new stake in shares of Pagaya Technologies during the 3rd quarter valued at about $36,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.