Pagaya Technologies (NASDAQ:PGY) Upgraded at Citigroup

Citigroup upgraded shares of Pagaya Technologies (NASDAQ:PGYFree Report) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat Ratings reports. Citigroup currently has $14.50 target price on the stock, up from their previous target price of $13.00.

A number of other equities analysts have also commented on PGY. UBS Group began coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective for the company. Canaccord Genuity Group decreased their target price on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

View Our Latest Report on PGY

Pagaya Technologies Trading Up 12.9 %

Pagaya Technologies stock opened at $12.50 on Friday. The company has a 50 day moving average price of $9.59 and a 200 day moving average price of $11.16. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $20.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $920.75 million, a price-to-earnings ratio of -4.92 and a beta of 6.09.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 21,547 shares of Pagaya Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $214,823.59. Following the completion of the sale, the insider now owns 73,550 shares of the company’s stock, valued at approximately $733,293.50. The trade was a 22.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Evangelos Perros sold 21,305 shares of Pagaya Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $212,410.85. Following the completion of the transaction, the chief financial officer now owns 54,029 shares in the company, valued at $538,669.13. This trade represents a 28.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,323 shares of company stock valued at $674,844. Insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of Pagaya Technologies during the 4th quarter worth about $30,000. Nisa Investment Advisors LLC bought a new position in shares of Pagaya Technologies during the 4th quarter worth about $57,000. BNP Paribas Financial Markets increased its holdings in shares of Pagaya Technologies by 48.4% during the 3rd 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 period. Arizona State Retirement System increased its holdings in shares of Pagaya Technologies by 10.9% during the 4th 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 period. Finally, Entropy Technologies LP bought a new stake in Pagaya Technologies in the fourth quarter valued at about $114,000. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

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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.

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