Pagaya Technologies (NASDAQ:PGY) Given New $36.00 Price Target at Canaccord Genuity Group

Pagaya Technologies (NASDAQ:PGY) had its price objective increased by stock analysts at Canaccord Genuity Group from $28.00 to $36.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 14.10% from the company’s previous close.

PGY has been the subject of several other reports. Wall Street Zen raised Pagaya Technologies from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Stephens started coverage on Pagaya Technologies in a research report on Thursday, June 12th. They set an “overweight” rating and a $22.00 price target for the company. Benchmark raised their price target on Pagaya Technologies from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Oppenheimer raised their price target on Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods raised their price target on Pagaya Technologies from $27.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $31.55 on Monday. The stock has a fifty day moving average price of $24.29 and a 200 day moving average price of $16.30. The stock has a market cap of $2.39 billion, a PE ratio of -8.24 and a beta of 5.95. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $41.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42.

Insiders Place Their Bets

In other news, CTO Avital Pardo sold 54,254 shares of Pagaya Technologies stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total value of $1,098,100.96. Following the completion of the sale, the chief technology officer owned 1,042,950 shares of the company’s stock, valued at $21,109,308. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Sanjiv Das sold 12,742 shares of Pagaya Technologies stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $25.95, for a total value of $330,654.90. Following the completion of the sale, the president directly owned 98,562 shares of the company’s stock, valued at approximately $2,557,683.90. This represents a 11.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 878,155 shares of company stock valued at $17,372,922. 47.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PGY. MassMutual Private Wealth & Trust FSB purchased a new stake in Pagaya Technologies during the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its position in 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 valued at $42,000 after acquiring an additional 520 shares during the period. Virtus Advisers LLC purchased a new stake in Pagaya Technologies during the first quarter valued at about $35,000. GAMMA Investing LLC grew its position in Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock valued at $46,000 after acquiring an additional 4,345 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Pagaya Technologies by 77.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,435 shares of the company’s stock valued at $95,000 after acquiring an additional 1,935 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.