Pagaya Technologies (NASDAQ:PGY) Lowered to “Buy” Rating by Wall Street Zen

Pagaya Technologies (NASDAQ:PGY) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Several other research analysts also recently commented on PGY. Benchmark reissued a “buy” rating and issued a $48.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Canaccord Genuity Group lifted their price objective on Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, JMP Securities raised their price target on Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a report on Monday, August 11th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Pagaya Technologies Trading Down 0.2%

Shares of Pagaya Technologies stock opened at $24.83 on Friday. The company’s 50-day moving average price is $26.56 and its 200-day moving average price is $27.26. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16. Pagaya Technologies has a 12-month low of $8.27 and a 12-month high of $44.99. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -9.30 and a beta of 5.84.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 15,026 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 28,181 shares of the company’s stock, valued at $866,002.13. This represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 13,304 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $40.62, for a total transaction of $540,408.48. Following the transaction, the president owned 96,885 shares in the company, valued at $3,935,468.70. The trade was a 12.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 85,646 shares of company stock worth $3,108,555. 47.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position in Pagaya Technologies by 35.8% in the 2nd 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 period. Nisa Investment Advisors LLC grew its stake in shares of Pagaya Technologies by 8.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,676 shares of the company’s stock valued at $142,000 after buying an additional 526 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Pagaya Technologies in the third quarter worth about $25,000. Fox Run Management L.L.C. lifted its stake in shares of Pagaya Technologies by 1.9% in the 2nd quarter. Fox Run Management L.L.C. now owns 50,587 shares of the company’s stock valued at $1,079,000 after acquiring an additional 919 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Pagaya Technologies by 21.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock valued at $114,000 after acquiring an additional 938 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.