Pagaya Technologies (NASDAQ:PGY) Shares Down 4.7%

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price was down 4.7% on Thursday . The company traded as low as $9.82 and last traded at $9.85. Approximately 158,157 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,228,603 shares. The stock had previously closed at $10.34.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wedbush dropped their price target on Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a research note on Friday, March 15th. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 22nd. Finally, JMP Securities reduced their price target on shares of Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Pagaya Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $38.08.

Pagaya Technologies Stock Performance

The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. The company has a market cap of $558.02 million, a price-to-earnings ratio of -4.37 and a beta of 6.66. The stock has a 50 day simple moving average of $12.81 and a 200 day simple moving average of $14.60.

Insider Buying and Selling

In other news, insider Tami Rosen bought 10,000 shares of Pagaya Technologies stock in a transaction dated Friday, April 5th. The shares were acquired at an average cost of $10.47 per share, with a total value of $104,700.00. Following the completion of the transaction, the insider now owns 28,818 shares in the company, valued at approximately $301,724.46. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pagaya Technologies news, CRO Yahav Yulzari purchased 60,000 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, April 3rd. The stock was purchased at an average price of $10.17 per share, with a total value of $610,200.00. Following the completion of the acquisition, the executive now owns 299,699 shares of the company’s stock, valued at approximately $3,047,938.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tami Rosen acquired 10,000 shares of the stock in a transaction on Friday, April 5th. The shares were acquired at an average price of $10.47 per share, with a total value of $104,700.00. Following the purchase, the insider now owns 28,818 shares in the company, valued at $301,724.46. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 194,807 shares of company stock valued at $2,012,373. Corporate insiders own 19.70% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Walleye Capital LLC bought a new stake in shares of Pagaya Technologies in the third quarter worth $25,000. Wolverine Trading LLC increased its position in shares of Pagaya Technologies by 279.8% in the 3rd quarter. Wolverine Trading LLC now owns 17,602 shares of the company’s stock worth $28,000 after purchasing an additional 27,393 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Pagaya Technologies during the third quarter worth about $29,000. Osaic Holdings Inc. acquired a new position in Pagaya Technologies in the second quarter worth about $29,000. Finally, Prelude Capital Management LLC acquired a new position in Pagaya Technologies in the fourth quarter worth about $30,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.