Benchmark Reiterates Buy Rating for Pagaya Technologies (NASDAQ:PGY)

Benchmark reaffirmed their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research report report published on Wednesday,Benzinga reports. They currently have a $48.00 price objective on the stock.

A number of other research firms also recently commented on PGY. Citigroup lifted their target price on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. JMP Securities boosted their price objective on shares of Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a research report on Monday, August 11th. B. Riley boosted their price objective on shares of Pagaya Technologies from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 30th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Pagaya Technologies Trading Down 5.4%

NASDAQ:PGY opened at $29.40 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $44.99. The company has a market cap of $2.25 billion, a PE ratio of -7.68 and a beta of 5.86. The company has a 50 day simple moving average of $34.43 and a two-hundred day simple moving average of $22.52.

Insider Activity

In related news, CFO Evangelos Perros sold 14,356 shares of Pagaya Technologies stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $37.34, for a total transaction of $536,053.04. Following the transaction, the chief financial officer owned 59,079 shares in the company, valued at approximately $2,206,009.86. The trade was a 19.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dan Petrozzo sold 8,484 shares of Pagaya Technologies stock in a transaction on Friday, July 18th. The shares were sold at an average price of $30.15, for a total transaction of $255,792.60. Following the transaction, the director owned 96,278 shares in the company, valued at approximately $2,902,781.70. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,307 shares of company stock worth $4,061,458 in the last quarter. Corporate insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PGY. MassMutual Private Wealth & Trust FSB purchased a new stake in Pagaya Technologies in the 2nd quarter worth $25,000. Virtus Advisers LLC purchased a new stake in Pagaya Technologies in the 1st quarter worth $35,000. Caitong International Asset Management Co. Ltd lifted its stake in Pagaya Technologies by 35.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after purchasing an additional 520 shares in the last quarter. GAMMA Investing LLC lifted its stake in Pagaya Technologies by 5,431.3% in the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock worth $46,000 after purchasing an additional 4,345 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Pagaya Technologies in the 4th quarter worth $94,000. 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.