Canaccord Genuity Group Cuts Pagaya Technologies (NASDAQ:PGY) Price Target to $25.00

Pagaya Technologies (NASDAQ:PGY) had its price target reduced by Canaccord Genuity Group from $32.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

PGY has been the topic of several other research reports. Oppenheimer assumed coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $21.00 price objective on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Wedbush restated a “neutral” rating and issued a $13.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Finally, B. Riley cut their price objective on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $8.81 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.50. The firm has a fifty day moving average price of $11.50 and a 200-day moving average price of $12.31. The stock has a market cap of $632.69 million, a PE ratio of -3.47 and a beta of 6.33. Pagaya Technologies has a 1 year low of $8.56 and a 1 year high of $20.50.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 7,659 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $12.00, for a total transaction of $91,908.00. Following the completion of the transaction, the insider now owns 65,857 shares in the company, valued at $790,284. This represents a 10.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yahav Yulzari sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.50, for a total value of $2,325,000.00. Following the completion of the transaction, the insider now owns 161,637 shares in the company, valued at approximately $2,505,373.50. This trade represents a 48.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,045 shares of company stock worth $2,755,982 over the last three months. Company insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGY. The Manufacturers Life Insurance Company increased its position in shares of Pagaya Technologies by 13.2% during the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock valued at $176,000 after acquiring an additional 1,937 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock valued at $103,000 after buying an additional 3,181 shares in the last quarter. nVerses Capital LLC acquired a new position in Pagaya Technologies in the second quarter valued at $74,000. SG Americas Securities LLC acquired a new position in Pagaya Technologies during the second quarter worth approximately $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Pagaya Technologies in the 2nd quarter valued at $166,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.