Pagaya Technologies (NASDAQ:PGY) Price Target Raised to $27.00

Pagaya Technologies (NASDAQ:PGY) had its price objective lifted by Jefferies Financial Group from $23.00 to $27.00 in a report published on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

PGY has been the topic of several other research reports. B. Riley Financial increased their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Citizens Jmp raised their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, July 31st. Finally, Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $32.00.

Pagaya Technologies Trading Down 1.1%

PGY stock opened at $20.24 on Tuesday. The company has a market capitalization of $1.69 billion, a PE ratio of 14.88 and a beta of 5.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. Pagaya Technologies has a one year low of $10.40 and a one year high of $44.99. The company’s 50 day moving average price is $18.09 and its two-hundred day moving average price is $14.90.

Insider Buying and Selling

In related news, Director Tami Rosen sold 28,181 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $21.98, for a total transaction of $619,418.38. Following the transaction, the director owned 16,665 shares in the company, valued at $366,296.70. The trade was a 62.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Sanjiv Das sold 21,289 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $22.00, for a total value of $468,358.00. Following the transaction, the president directly owned 144,186 shares of the company’s stock, valued at $3,172,092. The trade was a 12.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 107,560 shares of company stock valued at $2,011,541 over the last ninety days. Corporate insiders own 41.99% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGY. Root Financial Partners LLC purchased a new position in Pagaya Technologies during the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd lifted its position in shares of Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,084 shares during the period. Transamerica Financial Advisors LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at about $30,000. Quarry LP boosted its stake in shares of Pagaya Technologies by 330.8% during the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after purchasing an additional 1,277 shares in the last quarter. Finally, First Bancorp Inc ME purchased a new position in shares of Pagaya Technologies during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.