Pagaya Technologies (NASDAQ:PGY) Receives Sell (D-) Rating from Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of Pagaya Technologies (NASDAQ:PGY) in a report released on Tuesday,Weiss Ratings reports.

Other equities research analysts also recently issued research reports about the company. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Keefe, Bruyette & Woods raised their price objective on Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Oppenheimer raised their price objective on Pagaya Technologies from $16.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. JMP Securities raised their price objective on Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a research report on Monday, August 11th. Finally, B. Riley increased their price target on Pagaya Technologies from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pagaya Technologies presently has an average rating of “Moderate Buy” and an average price target of $34.33.

Pagaya Technologies Price Performance

Shares of PGY stock opened at $29.86 on Tuesday. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $44.99. The stock’s 50-day moving average is $34.26 and its 200 day moving average is $23.46. The company has a market cap of $2.29 billion, a P/E ratio of -7.80 and a beta of 5.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.42.

Insiders Place Their Bets

In other news, insider Tami Rosen sold 15,026 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $30.73, for a total value of $461,748.98. Following the completion of the transaction, the insider directly owned 28,181 shares in the company, valued at $866,002.13. This trade represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Sanjiv Das sold 4,783 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $30.20, for a total value of $144,446.60. Following the completion of the transaction, the president owned 100,640 shares of the company’s stock, valued at approximately $3,039,328. The trade was a 4.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,307 shares of company stock valued at $4,061,458. 47.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after purchasing an additional 520 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Pagaya Technologies by 8.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,676 shares of the company’s stock worth $142,000 after purchasing an additional 526 shares during the last quarter. Fox Run Management L.L.C. raised its stake in shares of Pagaya Technologies by 1.9% in the second quarter. Fox Run Management L.L.C. now owns 50,587 shares of the company’s stock worth $1,079,000 after purchasing an additional 919 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Pagaya Technologies by 21.2% in the second quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock worth $114,000 after purchasing an additional 938 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Pagaya Technologies by 9.7% in 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 during the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.