Pagaya Technologies (NASDAQ:PGY) Shares Up 7.4% – Still a Buy?

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) shot up 7.4% on Friday . The stock traded as high as $9.92 and last traded at $9.84. 1,108,320 shares traded hands during trading, a decline of 24% from the average session volume of 1,456,806 shares. The stock had previously closed at $9.16.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. Canaccord Genuity Group reduced their target price on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. UBS Group began coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target for the company. Oppenheimer began coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price objective on the stock. Finally, B. Riley lowered their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Pagaya Technologies Trading Up 6.0 %

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 business has a 50 day moving average price of $9.54 and a 200-day moving average price of $11.50. The firm has a market capitalization of $715.02 million, a PE ratio of -3.84 and a beta of 6.12.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $63,239.71. Following the sale, the president now directly owns 75,528 shares in the company, valued at approximately $753,014.16. The trade was a 7.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tami Rosen sold 17,570 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the transaction, the insider now owns 73,516 shares of the company’s stock, valued at approximately $886,602.96. This represents a 19.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 231,706 shares of company stock worth $3,183,722. 49.56% of the stock is owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Several large investors have recently modified their holdings of the business. R Squared Ltd acquired a new position in Pagaya Technologies in the 4th quarter valued at about $30,000. Nisa Investment Advisors LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $57,000. JPMorgan Chase & Co. lifted its position in Pagaya Technologies by 502.5% during the third quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock worth $1,610,000 after buying an additional 127,012 shares during the period. Tidal Investments LLC boosted its stake in Pagaya Technologies by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after buying an additional 1,826 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Pagaya Technologies in the 3rd quarter valued at about $223,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Company Profile

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.