Pagaya Technologies (NASDAQ:PGY) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of Pagaya Technologies (NASDAQ:PGY) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $11.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the company. Oppenheimer assumed coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $21.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 16th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. B. Riley decreased their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Canaccord Genuity Group dropped their price objective on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $8.95 on Friday. The stock has a market capitalization of $659.22 million, a P/E ratio of -3.52 and a beta of 6.11. The business has a 50-day moving average of $10.76 and a two-hundred day moving average of $12.02. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Insider Buying and Selling

In related news, President Sanjiv Das sold 10,683 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $11.77, for a total value of $125,738.91. Following the completion of the transaction, the president now owns 64,794 shares of the company’s stock, valued at $762,625.38. This represents a 14.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Yahav Yulzari sold 150,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the transaction, the insider now owns 161,637 shares of the company’s stock, valued at approximately $2,505,373.50. This represents a 48.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,045 shares of company stock valued at $2,755,982 over the last three months. 49.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently modified their holdings of PGY. SG Americas Securities LLC bought a new stake in shares of Pagaya Technologies in the 2nd quarter worth about $101,000. Bank of New York Mellon Corp acquired a new stake in shares of Pagaya Technologies during the second quarter worth approximately $1,564,000. ARK Investment Management LLC increased its holdings in shares of Pagaya Technologies by 36.2% during the second quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after buying an additional 58,939 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Pagaya Technologies in the second quarter valued at approximately $166,000. Finally, nVerses Capital LLC acquired a new position in shares of Pagaya Technologies in the 2nd quarter worth approximately $74,000. 57.14% of the stock is owned by institutional investors and hedge funds.

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.