Pagaya Technologies (NASDAQ:PGY) CFO Sells $385,170.80 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 12,754 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $30.20, for a total value of $385,170.80. Following the completion of the transaction, the chief financial officer directly owned 78,163 shares in the company, valued at approximately $2,360,522.60. The trade was a 14.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Evangelos Perros also recently made the following trade(s):

• On Monday, September 15th, Evangelos Perros sold 11,553 shares of Pagaya Technologies stock. The shares were sold at an average price of $40.62, for a total value of $469,282.86.
• On Tuesday, September 9th, Evangelos Perros sold 14,356 shares of Pagaya Technologies stock. The shares were sold at an average price of $37.34, for a total value of $536,053.04.
• On Friday, September 5th, Evangelos Perros sold 9,435 shares of Pagaya Technologies stock. The shares were sold at an average price of $38.84, for a total value of $366,455.40.

Pagaya Technologies Trading Down 5.4%

NASDAQ:PGY opened at $29.40 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $44.99. The firm has a market cap of $2.25 billion, a P/E ratio of -7.68 and a beta of 5.86. The stock’s 50 day simple moving average is $34.43 and its 200-day simple moving average is $22.52.

Institutional Trading of Pagaya Technologies

A number of institutional investors have recently bought and sold shares of PGY. JPMorgan Chase & Co. lifted its position in shares of Pagaya Technologies by 436.9% in the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after acquiring an additional 1,127,242 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after acquiring an additional 1,110,208 shares in the last quarter. Millennium Management LLC lifted its position in shares of Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after acquiring an additional 961,944 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Pagaya Technologies in the first quarter valued at $6,465,000. Finally, Jump Financial LLC lifted its position in shares of Pagaya Technologies by 509.6% in the second quarter. Jump Financial LLC now owns 672,635 shares of the company’s stock valued at $14,341,000 after acquiring an additional 562,294 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stephens assumed coverage on Pagaya Technologies in a research note on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price target on the stock. Canaccord Genuity Group lifted their price target on Pagaya Technologies from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Benchmark restated a “buy” rating and issued a $48.00 price target on shares of Pagaya Technologies in a research note on Wednesday. B. Riley boosted their target price on Pagaya Technologies from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Oppenheimer boosted their target price on Pagaya Technologies from $16.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Pagaya Technologies has an average rating of “Moderate Buy” and a consensus target price of $34.33.

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.