Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) Insider Sells 238,004 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Yahav Yulzari sold 238,004 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,608,140.64. Following the transaction, the insider now owns 4,346,141 shares of the company’s stock, valued at $65,887,497.56. The trade was a 5.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Pagaya Technologies Trading Down 6.8%

Shares of NASDAQ:PGY opened at $14.04 on Friday. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20. The company has a market capitalization of $1.06 billion, a P/E ratio of -2.55 and a beta of 5.88. The company has a 50-day simple moving average of $11.01 and a 200 day simple moving average of $10.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. During the same period in the previous year, the business earned $0.24 earnings per share. Sell-side analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

PGY has been the subject of several recent research reports. JMP Securities increased their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. B. Riley reissued a “buy” rating and set a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $14.50 in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.61.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of Pagaya Technologies by 502.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock worth $1,610,000 after buying an additional 127,012 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Pagaya Technologies by 80.7% during the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock worth $123,000 after buying an additional 5,925 shares during the last quarter. Barclays PLC acquired a new stake in Pagaya Technologies during the fourth quarter worth approximately $595,000. Rhumbline Advisers lifted its position in Pagaya Technologies by 14.7% during the fourth quarter. Rhumbline Advisers now owns 75,620 shares of the company’s stock worth $703,000 after acquiring an additional 9,674 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Pagaya Technologies during the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.