Pagaya Technologies (NASDAQ:PGY) Stock Rating Upgraded by Citigroup

Pagaya Technologies (NASDAQ:PGY) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $14.50 price target on the stock, up from their previous price target of $13.00. Citigroup’s price target points to a potential upside of 30.98% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. UBS Group assumed coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group cut their target price on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and issued a $21.00 price objective on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Two equities 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Pagaya Technologies Stock Performance

Shares of PGY opened at $11.07 on Friday. The business has a fifty day moving average of $9.55 and a 200 day moving average of $11.21. Pagaya Technologies has a one year low of $8.20 and a one year high of $20.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $815.42 million, a P/E ratio of -4.36 and a beta of 6.09.

Insider Activity

In related news, insider Yahav Yulzari sold 150,000 shares of Pagaya Technologies 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 completion of the sale, the insider now owns 161,637 shares in the company, valued at approximately $2,505,373.50. This trade represents a 48.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 21,547 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $214,823.59. Following the completion of the transaction, the insider now owns 73,550 shares of the company’s stock, valued at approximately $733,293.50. This trade represents a 22.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,477 shares of company stock valued at $2,879,920. 49.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Pagaya Technologies during the fourth quarter worth about $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Pagaya Technologies during the fourth quarter worth about $57,000. BNP Paribas Financial Markets grew its holdings in shares of Pagaya Technologies by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after purchasing an additional 3,181 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Pagaya Technologies by 10.9% during the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock worth $104,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Pagaya Technologies during the fourth quarter worth about $114,000. Institutional investors and hedge funds 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.