Pagaya Technologies (NASDAQ:PGY) Hits New 12-Month Low – Time to Sell?

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) reached a new 52-week low on Monday . The stock traded as low as $8.56 and last traded at $8.61, with a volume of 1898871 shares. The stock had previously closed at $8.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PGY shares. Canaccord Genuity Group reduced their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Wedbush reiterated a “neutral” rating and issued a $13.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Oppenheimer began coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 target price on the stock. Finally, B. Riley dropped their price target on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

Pagaya Technologies Trading Down 2.7 %

The company has a 50-day moving average price of $11.50 and a two-hundred day moving average price of $12.34. The stock has a market cap of $615.50 million, a P/E ratio of -3.47 and a beta of 6.33. The company has a current ratio of 1.17, a quick ratio of 1.50 and a debt-to-equity ratio of 0.82.

Insider Transactions at Pagaya Technologies

In related news, insider Yahav Yulzari sold 150,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the completion of the transaction, the insider now owns 161,637 shares in the company, valued at $2,505,373.50. The trade was a 48.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Sanjiv Das sold 10,683 shares of Pagaya Technologies stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total value of $125,738.91. Following the sale, the president now owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This trade represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,045 shares of company stock worth $2,755,982. 49.56% of the stock is currently owned by insiders.

Institutional Trading of Pagaya Technologies

A number of large investors have recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Pagaya Technologies during the 2nd quarter valued at $74,000. SG Americas Securities LLC purchased a new position in shares of Pagaya Technologies during the second quarter valued at $101,000. BNP Paribas Financial Markets raised its holdings in shares of 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 acquiring an additional 3,181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Pagaya Technologies in the second quarter worth about $166,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Pagaya Technologies by 13.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after acquiring an additional 1,937 shares during the period. 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.