Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $38.08.

A number of research analysts have recently commented on the stock. JMP Securities cut their price target on shares of Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating on the stock in a report on Monday, April 8th. Wedbush dropped their target price on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating on the stock in a report on Friday, March 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a report on Thursday, February 22nd.

Insider Activity

In other news, CRO Yahav Yulzari purchased 60,000 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were acquired at an average cost of $10.17 per share, for a total transaction of $610,200.00. Following the acquisition, the executive now owns 299,699 shares of the company’s stock, valued at $3,047,938.83. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO Avital Pardo acquired 38,480 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was purchased at an average cost of $10.36 per share, with a total value of $398,652.80. Following the transaction, the chief technology officer now directly owns 444,926 shares of the company’s stock, valued at approximately $4,609,433.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Yahav Yulzari acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was bought at an average cost of $10.17 per share, with a total value of $610,200.00. Following the completion of the transaction, the executive now directly owns 299,699 shares in the company, valued at $3,047,938.83. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 194,807 shares of company stock worth $2,012,373. Corporate insiders own 19.70% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Pagaya Technologies by 14.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock valued at $6,818,000 after purchasing an additional 83,913 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Pagaya Technologies in the 1st quarter valued at approximately $12,686,000. Cornerstone Investment Partners LLC purchased a new position in Pagaya Technologies during the 1st quarter worth approximately $158,000. Counterpoint Mutual Funds LLC purchased a new position in Pagaya Technologies during the 1st quarter worth approximately $275,000. Finally, Quadrature Capital Ltd raised its position in Pagaya Technologies by 3,558.5% during the 4th quarter. Quadrature Capital Ltd now owns 784,860 shares of the company’s stock worth $1,079,000 after buying an additional 763,407 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Trading Up 0.7 %

NASDAQ PGY opened at $10.41 on Friday. The company’s 50-day moving average price is $11.63 and its 200-day moving average price is $14.10. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.49. The stock has a market cap of $614.71 million, a PE ratio of -4.82 and a beta of 6.55. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $33.96.

Pagaya Technologies Company Profile

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.