Pagaya Technologies (NASDAQ:PGY) Trading 4.7% Higher

Pagaya Technologies Ltd. (NASDAQ:PGY) shares were up 4.7% during trading on Thursday . The company traded as high as $13.78 and last traded at $13.67. Approximately 92,334 shares were traded during trading, a decline of 92% from the average daily volume of 1,125,451 shares. The stock had previously closed at $13.06.

Analyst Ratings Changes

Several research analysts have recently weighed in on PGY shares. Keefe, Bruyette & Woods initiated coverage on Pagaya Technologies in a research report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective for the company. Benchmark began coverage on Pagaya Technologies in a report on Monday. They issued a “buy” rating and a $21.00 target price for the company. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Pagaya Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Pagaya Technologies Price Performance

The business has a 50-day moving average price of $13.37 and a two-hundred day moving average price of $12.66. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -9.78 and a beta of 6.44.

Insiders Place Their Bets

In related news, President Sanjiv Das sold 10,794 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.57, for a total value of $157,268.58. Following the sale, the president now owns 66,232 shares in the company, valued at approximately $965,000.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Pagaya Technologies news, CFO Evangelos Perros sold 11,293 shares of Pagaya Technologies stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $12.15, for a total transaction of $137,209.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Sanjiv Das sold 10,794 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.57, for a total transaction of $157,268.58. Following the completion of the sale, the president now owns 66,232 shares of the company’s stock, valued at approximately $965,000.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,239 shares of company stock worth $1,190,278. Insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGY. nVerses Capital LLC purchased a new stake in Pagaya Technologies in the 2nd quarter valued at about $74,000. SG Americas Securities LLC purchased a new stake in shares of Pagaya Technologies during the second quarter valued at approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Pagaya Technologies during the second quarter worth $166,000. Cubist Systematic Strategies LLC boosted its position in Pagaya Technologies by 50.1% in the second quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company’s stock worth $559,000 after purchasing an additional 14,629 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Pagaya Technologies in the second quarter worth $187,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.