Oppenheimer Raises Pagaya Technologies (NASDAQ:PGY) Price Target to $25.00

Pagaya Technologies (NASDAQ:PGY) had its price objective upped by investment analysts at Oppenheimer from $16.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 12.87% from the company’s previous close.

A number of other equities research analysts also recently issued reports on PGY. Stephens started coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They set an “overweight” rating and a $22.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $26.00 price target on shares of Pagaya Technologies in a report on Tuesday, June 24th. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Finally, B. Riley restated a “buy” rating and issued a $36.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.94.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $22.15 on Wednesday. The firm has a 50 day moving average of $16.36 and a 200 day moving average of $12.57. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.37 and a beta of 5.93. Pagaya Technologies has a 12-month low of $8.20 and a 12-month high of $23.45.

Insiders Place Their Bets

In other Pagaya Technologies news, insider Tami Rosen sold 13,821 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $21.85, for a total transaction of $301,988.85. Following the completion of the transaction, the insider directly owned 35,619 shares of the company’s stock, valued at approximately $778,275.15. This trade represents a 27.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Avital Pardo sold 54,254 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $20.24, for a total transaction of $1,098,100.96. Following the transaction, the chief technology officer directly owned 1,042,950 shares of the company’s stock, valued at $21,109,308. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,345,470 shares of company stock worth $24,118,452. Insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently added to or reduced their stakes in PGY. Invesco Ltd. raised its holdings in shares of Pagaya Technologies by 1.8% during the 4th quarter. Invesco Ltd. now owns 48,030 shares of the company’s stock worth $446,000 after acquiring an additional 864 shares during the period. Arizona State Retirement System raised its holdings in shares of Pagaya Technologies by 10.9% in the 4th quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock valued at $104,000 after purchasing an additional 1,092 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Pagaya Technologies by 9.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock worth $130,000 after buying an additional 1,094 shares during the last quarter. Swiss National Bank grew its position in shares of Pagaya Technologies by 1.7% in the 1st quarter. Swiss National Bank now owns 76,883 shares of the company’s stock valued at $806,000 after buying an additional 1,300 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Pagaya Technologies by 15.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock valued at $101,000 after acquiring an additional 1,532 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.