Pagaya Technologies (NASDAQ:PGY) Shares Up 3.1%

Pagaya Technologies Ltd. (NASDAQ:PGY) shares shot up 3.1% on Wednesday . The stock traded as high as $10.23 and last traded at $10.17. 113,746 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,232,676 shares. The stock had previously closed at $9.86.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGY. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 22nd. JMP Securities cut their price objective on shares of Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating for the company in a research report on Monday, April 8th. Finally, Wedbush cut their price objective on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a research report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Pagaya Technologies has a consensus rating of “Moderate Buy” and an average target price of $38.08.

Pagaya Technologies Trading Up 4.6 %

The firm has a market capitalization of $608.81 million, a P/E ratio of -4.56 and a beta of 6.66. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $13.01 and its 200-day simple moving average is $14.73.

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das bought 22,727 shares of the company’s stock in a transaction on Friday, April 5th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $240,224.39. Following the completion of the transaction, the president now directly owns 22,727 shares in the company, valued at approximately $240,224.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Pagaya Technologies news, CRO Yahav Yulzari acquired 60,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was purchased 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 in the company, valued at approximately $3,047,938.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Sanjiv Das acquired 22,727 shares of the stock in a transaction dated Friday, April 5th. The stock was acquired at an average price of $10.57 per share, with a total value of $240,224.39. Following the completion of the acquisition, the president now owns 22,727 shares in the company, valued at approximately $240,224.39. The disclosure for this purchase can be found here. Insiders purchased a total of 194,807 shares of company stock worth $2,012,373 over the last three months.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently made changes to their positions in the business. Walleye Capital LLC purchased a new position in shares of Pagaya Technologies in the third quarter worth $25,000. Wolverine Trading LLC increased its position in Pagaya Technologies by 279.8% during the 3rd quarter. Wolverine Trading LLC now owns 17,602 shares of the company’s stock valued at $28,000 after purchasing an additional 27,393 shares during the period. Osaic Holdings Inc. purchased a new position in Pagaya Technologies during the 2nd quarter valued at $29,000. HighTower Advisors LLC purchased a new position in Pagaya Technologies during the 3rd quarter valued at $29,000. Finally, Prelude Capital Management LLC purchased a new position in Pagaya Technologies during the 4th quarter valued at $30,000. 57.14% of the stock is currently 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.