Keefe, Bruyette & Woods Cuts Pagaya Technologies (NASDAQ:PGY) Price Target to $35.00

Pagaya Technologies (NASDAQ:PGY) had its price objective lowered by Keefe, Bruyette & Woods from $38.00 to $35.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Tuesday, October 14th. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Wall Street Zen lowered Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $48.00 price objective on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Pagaya Technologies Stock Performance

PGY stock opened at $22.28 on Friday. Pagaya Technologies has a 1-year low of $8.27 and a 1-year high of $44.99. The business has a 50-day moving average price of $23.90 and a 200 day moving average price of $28.19. The company has a market capitalization of $1.79 billion, a P/E ratio of -8.34 and a beta of 5.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41.

Insiders Place Their Bets

In related news, insider Tami Rosen sold 7,561 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $30.73, for a total transaction of $232,349.53. Following the transaction, the insider directly owned 37,544 shares of the company’s stock, valued at $1,153,727.12. This represents a 16.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 47.59% of the stock is currently owned by company insiders.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGY. Invesco Ltd. grew its stake in Pagaya Technologies by 20.5% during the 1st quarter. Invesco Ltd. now owns 57,875 shares of the company’s stock valued at $607,000 after purchasing an additional 9,845 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Pagaya Technologies during the first quarter worth about $327,000. AQR Capital Management LLC boosted its position in Pagaya Technologies by 2,722.3% in the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock valued at $3,204,000 after buying an additional 294,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Pagaya Technologies by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock valued at $653,000 after buying an additional 6,365 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after buying an additional 961,944 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.