Pagaya Technologies (NASDAQ:PGY) Rating Increased to Strong-Buy at Wall Street Zen

Pagaya Technologies (NASDAQ:PGY) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price target on Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Benchmark lifted their price target on Pagaya Technologies from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Canaccord Genuity Group lifted their price target on Pagaya Technologies from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Citigroup lifted their price target on Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, B. Riley lifted their price target on Pagaya Technologies from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Pagaya Technologies currently has an average rating of “Buy” and an average target price of $34.33.

Pagaya Technologies Stock Down 0.7%

Shares of PGY stock opened at $33.30 on Friday. The stock has a 50 day moving average of $25.27 and a 200 day moving average of $16.75. 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 stock has a market cap of $2.52 billion, a P/E ratio of -8.69 and a beta of 5.95. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $41.48.

Insiders Place Their Bets

In other news, CTO Avital Pardo sold 54,254 shares of the business’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 value of $1,098,100.96. Following the completion of the sale, the chief technology officer directly owned 1,042,950 shares in the company, valued at $21,109,308. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Evangelos Perros sold 12,755 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $22.57, for a total value of $287,880.35. Following the completion of the sale, the chief financial officer 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 disclosure for this sale can be found here. Over the last three months, insiders sold 878,155 shares of company stock valued at $17,372,922. 47.59% of the stock is owned by insiders.

Institutional Trading of Pagaya Technologies

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Pagaya Technologies by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock worth $130,000 after purchasing an additional 1,094 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Pagaya Technologies by 1,249.2% during the fourth quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company’s stock worth $1,223,000 after purchasing an additional 121,880 shares in the last quarter. Barclays PLC acquired a new position in Pagaya Technologies during the fourth quarter worth $595,000. Bank of America Corp DE boosted its stake in Pagaya Technologies by 9.7% during the fourth quarter. Bank of America Corp DE now owns 144,097 shares of the company’s stock worth $1,339,000 after buying an additional 12,760 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Pagaya Technologies by 5,431.3% during 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 during the last quarter. 57.14% of the stock is currently 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.