Insider Selling: Pagaya Technologies (NASDAQ:PGY) President Sells $216,005.07 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 13,309 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $216,005.07. Following the completion of the sale, the president directly owned 154,475 shares of the company’s stock, valued at $2,507,129.25. This trade represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Stock Up 3.9%

Pagaya Technologies stock opened at $15.62 on Friday. The firm has a market cap of $1.29 billion, a PE ratio of 14.60 and a beta of 5.35. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The firm’s 50 day moving average price is $14.09 and its two-hundred day moving average price is $16.30. Pagaya Technologies Ltd. has a twelve month low of $10.40 and a twelve month high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last released its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%.The company had revenue of $91.63 million during the quarter. On average, research analysts predict that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Pagaya Technologies

A number of large investors have recently bought and sold shares of the business. Moody National Bank Trust Division raised its holdings in Pagaya Technologies by 2.4% during the fourth quarter. Moody National Bank Trust Division now owns 28,978 shares of the company’s stock valued at $606,000 after buying an additional 666 shares in the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of Pagaya Technologies by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company’s stock worth $1,506,000 after acquiring an additional 736 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Pagaya Technologies by 5.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock worth $176,000 after acquiring an additional 776 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Pagaya Technologies by 5.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company’s stock valued at $345,000 after acquiring an additional 790 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Pagaya Technologies by 3.2% during the 4th quarter. MetLife Investment Management LLC now owns 27,845 shares of the company’s stock valued at $582,000 after acquiring an additional 867 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PGY. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Weiss Ratings downgraded Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pagaya Technologies currently has an average rating of “Buy” and an average target price of $34.50.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.