Pagaya Technologies’ (PGY) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a report released on Thursday morning,Benzinga reports. They currently have a $25.00 price objective on the stock.

PGY has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. UBS Group initiated coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 target price on the stock. Finally, Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Pagaya Technologies Stock Up 24.3 %

Pagaya Technologies stock opened at $14.64 on Thursday. The business’s 50-day moving average price is $9.68 and its 200 day moving average price is $11.11. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -5.76 and a beta of 6.09. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $20.00.

Insider Buying and Selling

In other news, President Sanjiv Das sold 6,343 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $63,239.71. Following the completion of the sale, the president now owns 75,528 shares of the company’s stock, valued at $753,014.16. This represents a 7.75 % 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 35,369 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the transaction, the insider now directly owns 38,181 shares in the company, valued at approximately $572,715. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,692 shares of company stock worth $1,205,379. Insiders own 49.56% of the company’s stock.

Institutional Trading of Pagaya Technologies

Hedge funds have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Pagaya Technologies by 14.6% during the 3rd quarter. State Street Corp now owns 763,823 shares of the company’s stock worth $8,074,000 after purchasing an additional 97,135 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Pagaya Technologies by 310.6% during the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock worth $5,810,000 after buying an additional 473,063 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pagaya Technologies by 7.8% during the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock worth $6,310,000 after buying an additional 43,068 shares during the last quarter. FMR LLC grew its holdings in Pagaya Technologies by 8.3% in the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock valued at $5,545,000 after buying an additional 40,031 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Pagaya Technologies by 4,374.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after acquiring an additional 304,890 shares during the last quarter. Institutional investors and hedge funds 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.