Pagaya Technologies (NASDAQ:PGY) Trading 5.9% Higher – Should You Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY) traded up 5.9% during trading on Tuesday . The company traded as high as $9.39 and last traded at $9.38. 399,658 shares changed hands during trading, a decline of 72% from the average session volume of 1,416,346 shares. The stock had previously closed at $8.86.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PGY. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Benchmark restated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. UBS Group started coverage on Pagaya Technologies in a research note on Friday. They issued a “neutral” rating and a $11.00 price target on the stock. Canaccord Genuity Group decreased their target price on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, B. Riley lowered 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Pagaya Technologies Price Performance

The firm has a 50-day moving average of $10.72 and a 200 day moving average of $12.01. The company has a market capitalization of $692.37 million, a PE ratio of -3.70 and a beta of 6.11. 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 Activity at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the completion of the sale, the insider now directly owns 161,637 shares of the company’s stock, valued at approximately $2,505,373.50. This represents a 48.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tami Rosen sold 17,570 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.06, for a total transaction of $211,894.20. Following the completion of the transaction, the insider now owns 73,516 shares in the company, valued at $886,602.96. The trade was a 19.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,045 shares of company stock worth $2,755,982. 49.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Pagaya Technologies by 14.6% during the third quarter. State Street Corp now owns 763,823 shares of the company’s stock worth $8,074,000 after acquiring an additional 97,135 shares during the last quarter. Yarra Square Partners LP increased its holdings in shares of Pagaya Technologies by 29.9% in the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after purchasing an additional 142,500 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pagaya Technologies by 7.8% during the third quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock valued at $6,310,000 after buying an additional 43,068 shares during the last quarter. FMR LLC grew its holdings in Pagaya Technologies by 8.3% during the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock valued at $5,545,000 after buying an additional 40,031 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Pagaya Technologies by 4,374.9% in the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after purchasing an additional 304,890 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.