Pagaya Technologies (NASDAQ:PGY) Stock Rating Reaffirmed by Canaccord Genuity Group

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a research report issued on Monday, Benzinga reports. They presently have a $42.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 236.00% from the stock’s previous close.

A number of other research analysts also recently weighed in on PGY. Benchmark reissued a “buy” rating and issued a $22.00 target price on shares of Pagaya Technologies in a report on Friday, May 10th. Citigroup initiated coverage on Pagaya Technologies in a research report on Friday, May 24th. They issued a “neutral” rating and a $14.00 price target for the company. 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 target for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Pagaya Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.14.

Pagaya Technologies Stock Up 5.5 %

PGY stock opened at $12.50 on Monday. Pagaya Technologies has a fifty-two week low of $8.56 and a fifty-two week high of $31.50. The business’s 50-day moving average is $13.28 and its two-hundred day moving average is $12.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market cap of $886.25 million, a price-to-earnings ratio of -8.87 and a beta of 6.44.

Insider Buying and Selling

In related news, CRO Yahav Yulzari sold 11,662 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $15.78, for a total transaction of $184,026.36. Following the completion of the sale, the executive now owns 288,037 shares in the company, valued at $4,545,223.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pagaya Technologies news, CRO Yahav Yulzari sold 11,662 shares of Pagaya Technologies stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.78, for a total value of $184,026.36. Following the sale, the executive now owns 288,037 shares of the company’s stock, valued at approximately $4,545,223.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Avital Pardo sold 11,601 shares of Pagaya Technologies stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the sale, the chief technology officer now directly owns 433,125 shares in the company, valued at approximately $6,856,368.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,499 shares of company stock worth $565,108. 19.70% of the stock is owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Pagaya Technologies in the 2nd quarter worth approximately $74,000. SG Americas Securities LLC purchased a new position in shares of Pagaya Technologies in the 2nd quarter worth approximately $101,000. Cornerstone Investment Partners LLC purchased a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $158,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Pagaya Technologies in the 2nd quarter worth approximately $166,000. Finally, Castle Hook Partners LP purchased a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $188,000. 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.