Pagaya Technologies Ltd. (NASDAQ:PGY) Given Consensus Rating of “Moderate Buy” by Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $37.6250.

A number of research analysts have commented on the stock. Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Wall Street Zen cut Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Benchmark reissued a “buy” rating and issued a $48.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 1st. Finally, Canaccord Genuity Group upped their price target on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th.

Pagaya Technologies Stock Performance

Shares of PGY opened at $22.63 on Thursday. The company’s 50 day simple moving average is $24.86 and its 200-day simple moving average is $27.96. The firm has a market cap of $1.82 billion, a PE ratio of -8.47 and a beta of 5.84. Pagaya Technologies has a 12-month low of $8.27 and a 12-month high of $44.99. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16.

Insiders Place Their Bets

In other news, CFO Evangelos Perros sold 12,754 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $30.20, for a total value of $385,170.80. Following the completion of the sale, the chief financial officer owned 78,163 shares in the company, valued at approximately $2,360,522.60. This trade represents a 14.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tami Rosen sold 15,026 shares of Pagaya Technologies stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $30.73, for a total transaction of $461,748.98. Following the completion of the sale, the insider directly owned 28,181 shares in the company, valued at approximately $866,002.13. The trade was a 34.78% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 40,124 shares of company stock worth $1,223,716. 47.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Pagaya Technologies

A number of large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in shares of Pagaya Technologies by 20.7% in the 3rd quarter. IFP Advisors Inc now owns 11,886 shares of the company’s stock valued at $353,000 after buying an additional 2,036 shares during the period. Advisory Services Network LLC lifted its holdings in Pagaya Technologies by 23.7% in the third quarter. Advisory Services Network LLC now owns 10,987 shares of the company’s stock valued at $326,000 after acquiring an additional 2,105 shares during the period. Harvest Investment Services LLC purchased a new stake in shares of Pagaya Technologies during the 3rd quarter worth $4,282,000. Oberweis Asset Management Inc. acquired a new position in shares of Pagaya Technologies during the 3rd quarter worth $5,641,000. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Pagaya Technologies by 37.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 24,761 shares of the company’s stock valued at $735,000 after purchasing an additional 6,683 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.