Pagaya Technologies (NASDAQ:PGY) Earns “Market Outperform” Rating from JMP Securities

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a report released on Tuesday,Benzinga reports. They currently have a $26.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 35.56% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Stephens started coverage on Pagaya Technologies in a research note on Thursday, June 12th. They set an “overweight” rating and a $22.00 price target on the stock. Finally, B. Riley reaffirmed a “buy” rating and set a $36.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Pagaya Technologies Stock Down 3.9%

PGY stock opened at $19.18 on Tuesday. The stock’s 50 day simple moving average is $14.94 and its 200 day simple moving average is $12.09. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $20.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $1.45 billion, a P/E ratio of -3.78 and a beta of 5.93.

Insider Transactions at Pagaya Technologies

In other news, insider Yahav Yulzari sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $19.00, for a total value of $89,300.00. Following the completion of the transaction, the insider now directly owns 4,148,850 shares of the company’s stock, valued at $78,828,150. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Sanjiv Das sold 12,789 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares of the company’s stock, valued at approximately $989,388.95. This represents a 10.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,299,465 shares of company stock valued at $23,090,070 over the last ninety days. 47.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors have recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of Pagaya Technologies by 80.7% in the fourth quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock valued at $123,000 after acquiring an additional 5,925 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Pagaya Technologies by 1,249.2% in the fourth quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company’s stock valued at $1,223,000 after acquiring an additional 121,880 shares in the last quarter. Barclays PLC bought a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $595,000. Rhumbline Advisers grew its holdings in shares of Pagaya Technologies by 14.7% in the fourth quarter. Rhumbline Advisers now owns 75,620 shares of the company’s stock valued at $703,000 after acquiring an additional 9,674 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Pagaya Technologies by 9.7% in the fourth quarter. Bank of America Corp DE now owns 144,097 shares of the company’s stock valued at $1,339,000 after acquiring an additional 12,760 shares in the last quarter. 57.14% of the stock is owned by institutional investors.

About Pagaya Technologies

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.