Pagaya Technologies (NASDAQ:PGY) Reaches New 1-Year Low at $8.84

Pagaya Technologies Ltd. (NASDAQ:PGY) hit a new 52-week low during trading on Monday . The stock traded as low as $8.84 and last traded at $8.90, with a volume of 691767 shares trading hands. The stock had previously closed at $9.45.

Analyst Upgrades and Downgrades

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

Pagaya Technologies Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.05 and a current ratio of 4.05. The firm’s 50 day moving average is $12.63 and its 200-day moving average is $14.43. The stock has a market capitalization of $545.62 million, a price-to-earnings ratio of -4.28 and a beta of 6.67.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das bought 22,727 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average cost of $10.57 per share, for a total transaction of $240,224.39. Following the purchase, the president now directly owns 22,727 shares in the company, valued at approximately $240,224.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, President Sanjiv Das purchased 22,727 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was bought at an average price of $10.57 per share, with a total value of $240,224.39. Following the acquisition, the president now owns 22,727 shares in the company, valued at $240,224.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Avi Zeevi purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was bought at an average cost of $10.35 per share, with a total value of $310,500.00. Following the acquisition, the director now owns 35,656 shares in the company, valued at approximately $369,039.60. The disclosure for this purchase can be found here. Insiders bought a total of 194,807 shares of company stock worth $2,012,373 in the last three months.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Pagaya Technologies during the first quarter worth $12,686,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Pagaya Technologies during the first quarter worth $275,000. Quadrature Capital Ltd grew its holdings in shares of Pagaya Technologies by 3,558.5% during the fourth quarter. Quadrature Capital Ltd now owns 784,860 shares of the company’s stock worth $1,079,000 after buying an additional 763,407 shares in the last quarter. Yarra Square Partners LP purchased a new stake in shares of Pagaya Technologies during the fourth quarter worth $4,099,000. Finally, Swiss National Bank purchased a new stake in shares of Pagaya Technologies during the fourth quarter worth $658,000. 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.