Pagaya Technologies Ltd. (NASDAQ:PGY) Stock Has Average Target Price of $31.25 According to Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $31.25.

A number of research firms have weighed in on PGY. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Citizens Jmp increased their price target on shares of Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Canaccord Genuity Group raised their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pagaya Technologies in a report on Monday, September 14th. Finally, TD Cowen began coverage on Pagaya Technologies in a research note on Thursday, September 3rd. They issued a “buy” rating and a $26.00 price objective on the stock.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 21,289 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $22.00, for a total transaction of $468,358.00. Following the completion of the transaction, the president directly owned 144,186 shares in the company, valued at $3,172,092. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Cory Vieira sold 2,170 shares of Pagaya Technologies stock in a transaction on Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $36,976.80. Following the transaction, the chief accounting officer directly owned 25,160 shares of the company’s stock, valued at approximately $428,726.40. The trade was a 7.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 96,131 shares of company stock worth $1,983,649 over the last three months. 41.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors have recently added to or reduced their stakes in PGY. Engineers Gate Manager LP grew its stake in Pagaya Technologies by 158.5% during the second quarter. Engineers Gate Manager LP now owns 130,172 shares of the company’s stock worth $2,376,000 after buying an additional 79,810 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Pagaya Technologies by 4,562.7% in the first quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after acquiring an additional 114,159 shares during the last quarter. SPX Gestao de Recursos Ltda raised its stake in shares of Pagaya Technologies by 49.7% in the first quarter. SPX Gestao de Recursos Ltda now owns 180,100 shares of the company’s stock valued at $2,098,000 after acquiring an additional 59,800 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $1,426,000. Finally, Globeflex Capital L P acquired a new stake in Pagaya Technologies during the 2nd quarter valued at $2,244,000. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $17.98 on Friday. The company’s fifty day moving average is $20.47 and its two-hundred day moving average is $16.54. Pagaya Technologies has a 52-week low of $10.40 and a 52-week high of $32.04. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 13.22 and a beta of 5.50.

About Pagaya Technologies

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence, machine learning and data analytics to connect financial institutions with institutional investors. Its technology analyzes large amounts of data to assess credit and other asset characteristics, helping partners originate, manage and fund assets while providing investors with access to diversified investment opportunities.

The company’s platform has supported asset classes including personal loans, auto loans and residential real estate assets.