Sanjiv Das Sells 14,000 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $15.83, for a total transaction of $221,620.00. Following the completion of the sale, the president owned 165,475 shares in the company, valued at approximately $2,619,469.25. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sanjiv Das also recently made the following trade(s):

• On Friday, June 12th, Sanjiv Das sold 13,309 shares of Pagaya Technologies stock. The stock was sold at an average price of $16.23, for a total transaction of $216,005.07.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $18.25 on Wednesday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 17.06 and a beta of 5.35. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. The firm has a 50 day simple moving average of $14.53 and a 200 day simple moving average of $15.82. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99.

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

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently modified their holdings of PGY. BNP Paribas Financial Markets increased its holdings in 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 purchasing an additional 1,110,208 shares during the period. Millennium Management LLC raised its position in Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Pagaya Technologies by 221.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock worth $28,833,000 after buying an additional 950,443 shares during the period. Marshall Wace LLP lifted its holdings in Pagaya Technologies by 1,556.3% during the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock worth $19,952,000 after buying an additional 631,435 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Pagaya Technologies by 141.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock valued at $12,040,000 after buying an additional 602,992 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PGY shares. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Pagaya Technologies currently has a consensus rating of “Buy” and a consensus price target of $34.50.

About Pagaya Technologies

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.