Benchmark reissued their buy rating on shares of Pagaya Technologies (NASDAQ:PGY – Free Report) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $48.00 target price on the stock.
Several other equities analysts have also weighed in on PGY. Canaccord Genuity Group raised their price objective on shares of Pagaya Technologies from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods raised their price objective on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. JMP Securities raised their price objective on shares of Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a research report on Monday, August 11th. Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, Citigroup raised their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.33.
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Pagaya Technologies Stock Performance
NASDAQ:PGY opened at $29.91 on Wednesday. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $44.99. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $34.50 and a 200-day moving average of $22.26. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -7.81 and a beta of 5.86.
Insider Activity
In other Pagaya Technologies news, CFO Evangelos Perros sold 11,553 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $40.62, for a total transaction of $469,282.86. Following the completion of the sale, the chief financial officer directly owned 68,151 shares of the company’s stock, valued at approximately $2,768,293.62. This represents a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tami Rosen sold 13,870 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $41.20, for a total transaction of $571,444.00. Following the sale, the insider directly owned 43,207 shares of the company’s stock, valued at $1,780,128.40. This represents a 24.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,744 shares of company stock valued at $3,070,091 over the last ninety days. Corporate insiders own 47.59% of the company’s stock.
Institutional Trading of Pagaya Technologies
A number of hedge funds have recently made changes to their positions in PGY. JPMorgan Chase & Co. lifted its position in shares of Pagaya Technologies by 436.9% in the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock worth $29,534,000 after purchasing an additional 1,127,242 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after purchasing an additional 1,110,208 shares in the last quarter. Millennium Management LLC lifted its position in shares of Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Pagaya Technologies in the first quarter worth approximately $6,465,000. Finally, Jump Financial LLC lifted its position in shares of Pagaya Technologies by 509.6% in the second quarter. Jump Financial LLC now owns 672,635 shares of the company’s stock worth $14,341,000 after purchasing an additional 562,294 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.
About Pagaya Technologies
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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.
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