Pagaya Technologies Ltd. (NASDAQ:PGY – Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 9,645 call options on the stock. This is an increase of approximately 95% compared to the average daily volume of 4,956 call options.
Wall Street Analysts Forecast Growth
PGY has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $48.00 target price on shares of Pagaya Technologies in a report on Wednesday. Stephens began coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 target price for the company. Citigroup upped their price target on Pagaya Technologies from $16.50 to $40.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. B. Riley upped their price target on Pagaya Technologies from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Oppenheimer upped their price target on Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.33.
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Insider Activity
In related news, President Sanjiv Das sold 13,304 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $40.62, for a total value of $540,408.48. Following the completion of the sale, the president directly owned 96,885 shares of the company’s stock, valued at approximately $3,935,468.70. This represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dan Petrozzo sold 8,484 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $30.15, for a total transaction of $255,792.60. Following the completion of the sale, the director directly owned 96,278 shares of the company’s stock, valued at $2,902,781.70. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,744 shares of company stock valued at $3,070,091. 47.59% of the stock is owned by insiders.
Institutional Trading of Pagaya Technologies
A number of institutional investors have recently bought and sold shares of PGY. Caitong International Asset Management Co. Ltd lifted its position in shares of Pagaya Technologies by 35.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after purchasing an additional 520 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Pagaya Technologies by 8.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,676 shares of the company’s stock worth $142,000 after purchasing an additional 526 shares during the last quarter. Fox Run Management L.L.C. lifted its position in shares of Pagaya Technologies by 1.9% during the second quarter. Fox Run Management L.L.C. now owns 50,587 shares of the company’s stock worth $1,079,000 after purchasing an additional 919 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Pagaya Technologies by 21.2% during the second quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock worth $114,000 after purchasing an additional 938 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Pagaya Technologies by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock worth $130,000 after purchasing an additional 1,094 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.
Pagaya Technologies Stock Up 0.7%
Shares of PGY opened at $29.91 on Thursday. The company has a market cap of $2.29 billion, a PE ratio of -7.81 and a beta of 5.86. The business has a fifty day moving average of $34.50 and a 200 day moving average of $22.26. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $44.99. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.
Pagaya Technologies Company Profile
(Get Free Report)
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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