Pagaya Technologies (NASDAQ:PGY) Given New $25.00 Price Target at Canaccord Genuity Group

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

Other equities analysts also recently issued research reports about the stock. Oppenheimer initiated coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price objective on the stock. B. Riley cut their price objective on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Pagaya Technologies in a report on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.11.

Pagaya Technologies Stock Performance

PGY opened at $10.18 on Wednesday. Pagaya Technologies has a 52-week low of $8.56 and a 52-week high of $20.50. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The company has a market cap of $731.13 million, a P/E ratio of -4.01 and a beta of 6.33. The firm’s 50-day moving average price is $11.68 and its 200-day moving average price is $12.35.

Insiders Place Their Bets

In other Pagaya Technologies news, insider Yahav Yulzari sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the sale, the insider now owns 161,637 shares in the company, valued at approximately $2,505,373.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Sanjiv Das sold 10,683 shares of the stock in a transaction that occurred 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 transaction, the president now owns 64,794 shares in the company, valued at $762,625.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 161,637 shares in the company, valued at $2,505,373.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,045 shares of company stock worth $2,755,982. Corporate insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC raised 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 valued at $2,830,000 after purchasing an additional 58,939 shares during the last quarter. Sei Investments Co. acquired a new position in Pagaya Technologies in the 1st quarter valued at $1,101,000. Yarra Square Partners LP raised its stake in Pagaya Technologies by 29.9% in the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after purchasing an additional 142,500 shares during the last quarter. Millennium Management LLC raised its stake in Pagaya Technologies by 455.9% in the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after purchasing an additional 179,235 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in Pagaya Technologies in the 2nd quarter valued at $781,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.