Pagaya Technologies (NASDAQ:PGY) Stock Price Up 4.5% – Should You Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY)’s stock price was up 4.5% during trading on Monday . The company traded as high as $9.62 and last traded at $9.69. Approximately 953,128 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 1,411,264 shares. The stock had previously closed at $9.28.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PGY shares. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 16th. UBS Group initiated coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. Finally, Canaccord Genuity Group cut their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Pagaya Technologies Stock Performance

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $769.75 million, a PE ratio of -4.11 and a beta of 6.09. The firm’s 50-day simple moving average is $9.56 and its 200-day simple moving average is $11.21.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $212,410.85. Following the completion of the sale, the chief financial officer now directly owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Yahav Yulzari sold 150,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the sale, the insider now owns 161,637 shares in the company, valued at $2,505,373.50. The trade was a 48.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,477 shares of company stock worth $2,879,920. Company insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $30,000. Nisa Investment Advisors LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at $57,000. BNP Paribas Financial Markets increased its stake in Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after purchasing an additional 3,181 shares during the period. Entropy Technologies LP acquired a new position in shares of Pagaya Technologies in the fourth quarter worth $114,000. Finally, IFP Advisors Inc boosted its stake in shares of Pagaya Technologies by 80.7% in the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock valued at $123,000 after buying an additional 5,925 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.