Jefferies Financial Group Forecasts Strong Price Appreciation for Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies (NASDAQ:PGY) had its price target boosted by research analysts at Jefferies Financial Group from $23.00 to $27.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 32.35% from the company’s current price.

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

Pagaya Technologies Stock Down 2.5%

PGY stock traded down $0.53 on Tuesday, hitting $20.40. 1,192,617 shares of the company’s stock were exchanged, compared to its average volume of 3,757,943. The firm has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $14.90. Pagaya Technologies has a 12-month low of $10.40 and a 12-month high of $44.99. The stock has a market cap of $1.70 billion, a P/E ratio of 14.99 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.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 21,289 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $22.00, for a total transaction of $468,358.00. Following the completion of the transaction, the president owned 144,186 shares of the company’s stock, valued at $3,172,092. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gal Krubiner bought 16,230 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average cost of $15.43 per share, with a total value of $250,428.90. Following the acquisition, the chief executive officer owned 555,906 shares of the company’s stock, valued at $8,577,629.58. The trade was a 3.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 107,560 shares of company stock valued at $2,011,541. 41.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently modified their holdings of PGY. Root Financial Partners LLC acquired a new stake in Pagaya Technologies during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd boosted its position in 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 in the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth approximately $30,000. Quarry LP grew 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 worth $35,000 after purchasing an additional 1,277 shares during the period. Finally, First Bancorp Inc ME purchased a new position in shares of Pagaya Technologies during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds 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.