Pagaya Technologies (NASDAQ:PGY) Stock Price Expected to Rise, JMP Securities Analyst Says

Pagaya Technologies (NASDAQ:PGY) had its target price upped by stock analysts at JMP Securities from $25.00 to $26.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 80.17% from the stock’s current price.

Several other research analysts have also weighed in on PGY. UBS Group assumed coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group restated a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Thursday. Finally, Citigroup upgraded shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.17.

Pagaya Technologies Trading Down 1.4 %

Pagaya Technologies stock traded down $0.21 during midday trading on Friday, hitting $14.43. 1,793,085 shares of the stock were exchanged, compared to its average volume of 2,501,683. The company has a fifty day simple moving average of $9.77 and a two-hundred day simple moving average of $11.13. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $20.00. The stock has a market capitalization of $1.06 billion, a PE ratio of -5.72 and a beta of 6.09. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Insider Activity

In other news, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the sale, the insider now directly owns 38,181 shares in the company, valued at $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Sanjiv Das sold 6,343 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $63,239.71. Following the completion of the sale, the president now owns 75,528 shares in the company, valued at $753,014.16. This trade represents a 7.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,692 shares of company stock worth $1,205,379 over the last ninety days. Insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors have recently added to or reduced their stakes in PGY. R Squared Ltd acquired a new position in Pagaya Technologies during the fourth quarter worth $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Pagaya Technologies during the fourth quarter worth $43,000. Nisa Investment Advisors LLC acquired a new position in Pagaya Technologies during the fourth quarter worth $57,000. KLP Kapitalforvaltning AS acquired a new position in Pagaya Technologies during the fourth quarter worth $67,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Pagaya Technologies by 15.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock worth $101,000 after buying an additional 1,532 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.