Canaccord Genuity Group Cuts Pagaya Technologies (NASDAQ:PGY) Price Target to $25.00

Pagaya Technologies (NASDAQ:PGY) had its price objective lowered by Canaccord Genuity Group from $32.00 to $25.00 in a report released on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

PGY has been the topic of several other reports. Benchmark reissued a “buy” rating and issued a $21.00 price objective on shares of Pagaya Technologies in a research report on Wednesday, October 16th. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Wedbush reissued a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research report on Monday, August 12th. Oppenheimer assumed coverage on Pagaya Technologies in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, B. Riley dropped their price target on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

Pagaya Technologies Stock Down 7.0 %

Shares of NASDAQ:PGY opened at $8.81 on Wednesday. The stock’s 50-day moving average price is $11.50 and its two-hundred day moving average price is $12.31. The company has a current ratio of 1.17, a quick ratio of 1.50 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a 12-month low of $8.56 and a 12-month high of $20.50. The firm has a market cap of $632.69 million, a price-to-earnings ratio of -3.47 and a beta of 6.33.

Insider Transactions at Pagaya Technologies

In other news, President Sanjiv Das sold 10,683 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total transaction of $125,738.91. Following the completion of the transaction, the president now owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. The trade was a 14.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $15.50, for a total value of $2,325,000.00. Following the completion of the transaction, the insider now owns 161,637 shares of the company’s stock, valued at $2,505,373.50. This represents a 48.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,045 shares of company stock worth $2,755,982 in the last three months. Insiders own 49.56% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. ARK Investment Management LLC grew its stake in Pagaya Technologies by 36.2% in the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after buying an additional 58,939 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Pagaya Technologies during the first quarter valued at approximately $1,101,000. Yarra Square Partners LP lifted its position in Pagaya Technologies by 29.9% during the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after acquiring an additional 142,500 shares during the period. Millennium Management LLC boosted its holdings in Pagaya Technologies by 455.9% in the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after acquiring an additional 179,235 shares in the last quarter. Finally, Rhumbline Advisers purchased a new stake in Pagaya Technologies during the 2nd quarter valued at about $781,000. 57.14% of the stock is 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.