Pagaya Technologies (NASDAQ:PGY) Trading Up 4.5% – Still a Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY) rose 4.5% during trading on Monday . The company traded as high as $9.62 and last traded at $9.69. Approximately 953,128 shares were traded during trading, a decline of 32% from the average daily volume of 1,411,264 shares. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PGY shares. Canaccord Genuity Group reduced their price objective on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. UBS Group started coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Benchmark restated a “buy” rating and set a $21.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Pagaya Technologies Trading Up 3.2 %

The company has a market capitalization of $705.66 million, a P/E ratio of -3.77 and a beta of 6.09. The business has a 50 day moving average price of $9.58 and a 200 day moving average price of $11.28. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling

In related news, President Sanjiv Das sold 7,282 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $64,445.70. Following the completion of the sale, the president now directly owns 91,163 shares in the company, valued at approximately $806,792.55. This trade represents a 7.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Yahav Yulzari sold 150,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the completion of the transaction, the insider now directly owns 161,637 shares in the company, valued at $2,505,373.50. The trade was a 48.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,136 shares of company stock valued at $2,971,828. Company insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PGY. Millennium Management LLC increased its stake in shares of 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. The Manufacturers Life Insurance Company bought a new position in Pagaya Technologies in the second quarter valued at about $187,000. Cubist Systematic Strategies LLC raised its stake in Pagaya Technologies by 50.1% during the second quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company’s stock worth $559,000 after acquiring an additional 14,629 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Pagaya Technologies in the 3rd quarter valued at $374,000. Finally, Intech Investment Management LLC acquired a new stake in Pagaya Technologies during the 3rd quarter worth approximately $191,000. Institutional investors and hedge funds 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.