Pagaya Technologies (NASDAQ:PGY) Stock Price Expected to Rise, JMP Securities Analyst Says

Pagaya Technologies (NASDAQ:PGY) had its price objective increased by JMP Securities from $25.00 to $26.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other brokerages have also issued reports on PGY. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, UBS Group assumed 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.17.

Pagaya Technologies Stock Up 5.0 %

Shares of NASDAQ PGY opened at $15.37 on Friday. The firm has a market cap of $1.13 billion, a PE ratio of -6.05 and a beta of 6.09. Pagaya Technologies has a 12-month low of $8.20 and a 12-month high of $20.00. The company’s fifty day simple moving average is $9.77 and its 200 day simple moving average is $11.13. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling at Pagaya Technologies

In other news, insider Tami Rosen sold 35,369 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the completion of the sale, the insider now owns 38,181 shares in the company, valued at $572,715. This represents a 48.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Sanjiv Das sold 6,343 shares of the stock in a transaction dated 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 approximately $753,014.16. This represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,692 shares of company stock valued at $1,205,379. Corporate insiders own 49.56% of the company’s stock.

Institutional Trading of Pagaya Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Pagaya Technologies during the fourth quarter worth about $30,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Pagaya Technologies during the fourth quarter worth about $43,000. Nisa Investment Advisors LLC purchased a new stake in Pagaya Technologies during the fourth quarter worth about $57,000. KLP Kapitalforvaltning AS purchased a new stake in Pagaya Technologies during the fourth quarter worth about $67,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Pagaya Technologies by 15.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock worth $101,000 after buying an additional 1,532 shares during the last quarter. 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.