Pagaya Technologies (NASDAQ:PGY) Price Target Raised to $38.00

Pagaya Technologies (NASDAQ:PGY) had its price objective boosted by Keefe, Bruyette & Woods from $27.00 to $38.00 in a report issued on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other research firms also recently issued reports on PGY. Benchmark lifted their price target on shares of Pagaya Technologies from $25.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Wall Street Zen raised shares of Pagaya Technologies from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. JMP Securities reaffirmed a “market outperform” rating and set a $26.00 price objective on shares of Pagaya Technologies in a report on Tuesday, June 24th. Citigroup lifted their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, Stephens initiated coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They set an “overweight” rating and a $22.00 price objective on the stock. Two investment 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, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $28.40.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $28.67 on Friday. The company has a fifty day simple moving average of $23.78 and a 200 day simple moving average of $16.06. Pagaya Technologies has a 12-month low of $8.20 and a 12-month high of $41.48. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The company has a market cap of $2.17 billion, a P/E ratio of -7.49 and a beta of 5.95.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 14,645 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $22.57, for a total value of $330,537.65. Following the transaction, the insider directly owned 49,440 shares of the company’s stock, valued at approximately $1,115,860.80. The trade was a 22.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 31,382 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $17.15, for a total transaction of $538,201.30. Following the completion of the transaction, the president directly owned 74,435 shares in the company, valued at $1,276,560.25. This trade represents a 29.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 878,155 shares of company stock valued at $17,372,922 over the last quarter. Corporate insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in shares of Pagaya Technologies in the fourth quarter worth about $382,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pagaya Technologies in the fourth quarter worth about $67,000. JPMorgan Chase & Co. lifted its holdings in shares of Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock worth $5,810,000 after buying an additional 473,063 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Pagaya Technologies in the fourth quarter worth approximately $312,000. Finally, Federated Hermes Inc. increased its position in shares of Pagaya Technologies by 9.1% in the fourth quarter. Federated Hermes Inc. now owns 167,885 shares of the company’s stock worth $1,560,000 after purchasing an additional 14,072 shares during the last quarter. 57.14% of the stock is currently owned by 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.