Benchmark Boosts Pagaya Technologies (NASDAQ:PGY) Price Target to $42.00

Pagaya Technologies (NASDAQ:PGY) had its target price lifted by equities research analysts at Benchmark from $25.00 to $42.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective points to a potential upside of 34.96% from the stock’s current price.

Several other research analysts have also commented on PGY. Wall Street Zen lowered shares of Pagaya Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. JMP Securities reiterated a “market outperform” rating and set a $26.00 price objective on shares of Pagaya Technologies in a research note on Tuesday, June 24th. Stephens initiated coverage on shares of Pagaya Technologies in a research note on Thursday, June 12th. They set an “overweight” rating and a $22.00 price objective for the company. Finally, Oppenheimer boosted their price objective on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.15.

Pagaya Technologies Price Performance

Shares of PGY opened at $31.12 on Friday. The company has a 50 day moving average price of $19.10 and a 200-day moving average price of $13.74. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $31.95. The stock has a market capitalization of $2.36 billion, a PE ratio of -6.14 and a beta of 5.93. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79.

Insider Activity

In other Pagaya Technologies news, CFO Evangelos Perros sold 12,755 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $22.57, for a total transaction of $287,880.35. Following the transaction, the chief financial officer directly owned 82,870 shares of the company’s stock, valued at $1,870,375.90. This trade represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tami Rosen sold 13,821 shares of the stock in a transaction 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 transaction, the insider directly owned 35,619 shares in the company, valued at approximately $778,275.15. The trade was a 27.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,353,907 shares of company stock valued at $24,585,322 in the last three months. Corporate insiders own 47.59% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Pagaya Technologies in the second quarter worth about $25,000. Virtus Advisers LLC purchased a new position in shares of Pagaya Technologies in the first quarter worth about $35,000. GAMMA Investing LLC lifted its stake in shares of Pagaya Technologies by 5,431.3% in the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock worth $46,000 after buying an additional 4,345 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Pagaya Technologies by 77.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,435 shares of the company’s stock worth $95,000 after buying an additional 1,935 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Pagaya Technologies in the fourth quarter worth about $43,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

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.