Pagaya Technologies (NASDAQ:PGY) Stock Price Down 4.7%

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price fell 4.7% during trading on Thursday . The company traded as low as $9.82 and last traded at $9.85. 158,157 shares changed hands during trading, a decline of 87% from the average session volume of 1,228,603 shares. The stock had previously closed at $10.34.

Analyst Upgrades and Downgrades

PGY has been the topic of a number of recent research reports. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 22nd. Wedbush dropped their price objective on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Finally, JMP Securities decreased their price objective on shares of Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating for the company in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.08.

Pagaya Technologies Price Performance

The stock has a market capitalization of $558.02 million, a price-to-earnings ratio of -4.37 and a beta of 6.66. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $12.81 and a 200-day moving average of $14.60.

Insider Activity

In related news, CRO Yahav Yulzari purchased 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were purchased at an average cost of $10.17 per share, for a total transaction of $610,200.00. Following the purchase, the executive now directly owns 299,699 shares of the company’s stock, valued at $3,047,938.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Yahav Yulzari bought 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was purchased at an average cost of $10.17 per share, with a total value of $610,200.00. Following the transaction, the executive now directly owns 299,699 shares in the company, valued at $3,047,938.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Avi Zeevi purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were purchased at an average price of $10.35 per share, for a total transaction of $310,500.00. Following the purchase, the director now directly owns 35,656 shares in the company, valued at $369,039.60. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 194,807 shares of company stock worth $2,012,373. Corporate insiders own 19.70% of the company’s stock.

Institutional Trading of Pagaya Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI raised its holdings in shares of Pagaya Technologies by 44.6% in the third quarter. National Bank of Canada FI now owns 45,664 shares of the company’s stock valued at $69,000 after buying an additional 14,092 shares during the last quarter. Walleye Capital LLC purchased a new stake in Pagaya Technologies during the 3rd quarter valued at approximately $25,000. Geode Capital Management LLC lifted its position in Pagaya Technologies by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 393,923 shares of the company’s stock worth $488,000 after acquiring an additional 17,818 shares during the period. HighTower Advisors LLC purchased a new position in shares of Pagaya Technologies in the 3rd quarter valued at approximately $29,000. Finally, Pathstone Family Office LLC acquired a new position in shares of Pagaya Technologies in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.