Pagaya Technologies (NASDAQ:PGY) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research report released on Monday morning, Benzinga reports. They currently have a $42.00 price target on the stock.

PGY has been the topic of a number of other reports. JMP Securities reissued a market outperform rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Friday, June 7th. Keefe, Bruyette & Woods assumed coverage on shares of Pagaya Technologies in a report on Monday, June 17th. They issued an outperform rating and a $23.00 price target on the stock. Citigroup started coverage on shares of Pagaya Technologies in a research report on Friday, May 24th. They issued a neutral rating and a $14.00 target price for the company. Finally, Benchmark reaffirmed a buy rating and set a $22.00 price target on shares of Pagaya Technologies in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $24.14.

Pagaya Technologies Stock Performance

Pagaya Technologies stock opened at $12.19 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.36 and a quick ratio of 2.36. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $29.76. The company has a market cap of $864.27 million, a price-to-earnings ratio of -8.65 and a beta of 6.44. The stock’s 50-day moving average is $13.28 and its 200-day moving average is $12.73.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 11,601 shares of Pagaya Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the transaction, the chief technology officer now owns 433,125 shares in the company, valued at $6,856,368.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CTO Avital Pardo sold 11,601 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares in the company, valued at approximately $6,856,368.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicole Torraco sold 4,743 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.04, for a total transaction of $57,105.72. The disclosure for this sale can be found here. In the last three months, insiders sold 39,499 shares of company stock valued at $565,108. 19.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Yarra Square Partners LP acquired a new position in shares of Pagaya Technologies during the 4th quarter worth $4,099,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pagaya Technologies in the first quarter worth about $12,686,000. Hood River Capital Management LLC bought a new stake in shares of Pagaya Technologies during the 1st quarter worth about $9,265,000. Quadrature Capital Ltd increased its holdings in shares of Pagaya Technologies by 3,558.5% during the 4th quarter. Quadrature Capital Ltd now owns 784,860 shares of the company’s stock valued at $1,079,000 after acquiring an additional 763,407 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Pagaya Technologies by 14.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock valued at $6,818,000 after acquiring an additional 83,913 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other 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.