Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of “Buy” by Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has received a consensus rating of “Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $32.00.

Several equities analysts have commented on PGY shares. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Citizens Jmp upped their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group lifted their target price on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group boosted their target price on Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th.

Pagaya Technologies Trading Down 1.1%

Shares of PGY stock opened at $21.74 on Tuesday. Pagaya Technologies has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. The company has a 50 day moving average price of $19.03 and a 200 day moving average price of $15.15. The stock has a market capitalization of $1.81 billion, a P/E ratio of 15.99 and a beta of 5.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08.

Insider Buying and Selling

In other news, CEO Gal Krubiner bought 16,230 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was purchased at an average price of $15.43 per share, for a total transaction of $250,428.90. Following the completion of the purchase, the chief executive officer owned 555,906 shares in the company, valued at approximately $8,577,629.58. This trade represents a 3.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Evangelos Perros sold 11,558 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $16.23, for a total value of $187,586.34. Following the completion of the transaction, the insider owned 131,241 shares in the company, valued at approximately $2,130,041.43. The trade was a 8.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 105,420 shares of company stock worth $1,979,419. 41.99% of the stock is owned by corporate insiders.

Institutional Trading of Pagaya Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in Pagaya Technologies by 1,899.0% during the second quarter. California State Teachers Retirement System now owns 3,561,013 shares of the company’s stock worth $64,988,000 after buying an additional 3,382,876 shares during the period. BNP Paribas Financial Markets grew its position in shares of Pagaya Technologies by 1,231.6% during the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after acquiring an additional 1,110,208 shares during the last quarter. Millennium Management LLC grew its position in shares of Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after acquiring an additional 961,944 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Pagaya Technologies by 221.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after acquiring an additional 950,443 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Pagaya Technologies by 1,556.3% in the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock valued at $19,952,000 after acquiring an additional 631,435 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.