TD Cowen Cuts Pagaya Technologies (NASDAQ:PGY) Price Target to $25.00

Pagaya Technologies (NASDAQ:PGY) had its price objective decreased by TD Cowen from $26.00 to $25.00 in a research report report published on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citizens Jmp upped their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, July 31st. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. B. Riley Financial lifted their target price on Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Pagaya Technologies has an average rating of “Buy” and an average price target of $31.12.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $18.26 on Tuesday. The firm has a market capitalization of $1.52 billion, a P/E ratio of 13.43 and a beta of 5.50. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average price is $20.58 and its two-hundred day moving average price is $16.79. Pagaya Technologies has a 1 year low of $10.40 and a 1 year high of $31.54.

Insider Transactions at Pagaya Technologies

In other news, Director Tami Rosen sold 28,181 shares of Pagaya Technologies stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $21.98, for a total value of $619,418.38. Following the completion of the sale, the director directly owned 16,665 shares in the company, valued at approximately $366,296.70. The trade was a 62.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Cory Vieira sold 2,170 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $36,976.80. Following the completion of the sale, the chief accounting officer owned 25,160 shares of the company’s stock, valued at approximately $428,726.40. This trade represents a 7.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 98,117 shares of company stock valued at $2,019,059. 41.99% of the stock is currently owned by company insiders.

Institutional Trading of Pagaya Technologies

A number of institutional investors have recently modified their holdings of PGY. The Manufacturers Life Insurance Company lifted its stake in shares of Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock valued at $176,000 after acquiring an additional 776 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in Pagaya Technologies by 5.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,903 shares of the company’s stock worth $527,000 after acquiring an additional 1,403 shares during the last quarter. First Bancorp Inc ME bought a new stake in Pagaya Technologies during the 2nd quarter worth $36,000. Integrated Wealth Concepts LLC acquired a new position in Pagaya Technologies in the 2nd quarter worth about $37,000. Finally, Arizona State Retirement System raised its position in Pagaya Technologies by 15.3% in the second quarter. Arizona State Retirement System now owns 16,217 shares of the company’s stock valued at $296,000 after purchasing an additional 2,149 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

About Pagaya Technologies

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence, machine learning and data analytics to connect financial institutions with institutional investors. Its technology analyzes large amounts of data to assess credit and other asset characteristics, helping partners originate, manage and fund assets while providing investors with access to diversified investment opportunities.

The company’s platform has supported asset classes including personal loans, auto loans and residential real estate assets.