Pagaya Technologies (NASDAQ:PGY) Stock Price Down 4%

Pagaya Technologies Ltd. (NASDAQ:PGY) fell 4% on Monday . The stock traded as low as $9.96 and last traded at $9.98. 633,917 shares changed hands during trading, a decline of 48% from the average session volume of 1,227,163 shares. The stock had previously closed at $10.40.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PGY. JMP Securities cut their price objective on Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating for the company in a research report on Monday, April 8th. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Pagaya Technologies in a research report on Thursday, February 22nd. Finally, Wedbush cut their price objective on Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a research report on Friday, March 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.08.

Pagaya Technologies Stock Down 3.3 %

The firm has a fifty day simple moving average of $12.30 and a 200 day simple moving average of $14.28. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling at Pagaya Technologies

In other news, insider Tami Rosen purchased 10,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was purchased at an average price of $10.47 per share, with a total value of $104,700.00. Following the acquisition, the insider now directly owns 28,818 shares in the company, valued at approximately $301,724.46. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Tami Rosen acquired 10,000 shares of the stock in a transaction dated Friday, April 5th. The shares were bought at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the purchase, the insider now owns 28,818 shares in the company, valued at approximately $301,724.46. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Yahav Yulzari acquired 60,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was bought at an average price of $10.17 per share, for a total transaction of $610,200.00. Following the completion of the purchase, the executive now owns 299,699 shares in the company, valued at approximately $3,047,938.83. The disclosure for this purchase can be found here. Insiders bought a total of 194,807 shares of company stock valued at $2,012,373 in the last quarter.

Institutional Investors Weigh In On Pagaya Technologies

A number of large investors have recently bought and sold shares of PGY. Yarra Square Partners LP bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $4,099,000. Allspring Global Investments Holdings LLC bought a new position in Pagaya Technologies in the 1st quarter valued at $12,686,000. Quadrature Capital Ltd bought a new position in Pagaya Technologies in the 4th quarter valued at $1,079,000. ARK Investment Management LLC boosted its position in Pagaya Technologies by 58.8% in the 4th quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock valued at $2,056,000 after buying an additional 551,520 shares during the last quarter. Finally, Swiss National Bank bought a new position in Pagaya Technologies in the 4th quarter valued at $658,000. 57.14% of the stock is currently owned by institutional investors.

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.