Pagaya Technologies (NASDAQ:PGY) Insider Sells $187,586.34 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Evangelos Perros sold 11,558 shares of Pagaya Technologies stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the transaction, the insider owned 131,241 shares of the company’s stock, valued at $2,130,041.43. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, April 1st, Evangelos Perros sold 13,004 shares of Pagaya Technologies stock. The stock was sold at an average price of $11.34, for a total value of $147,465.36.

Pagaya Technologies Stock Up 3.9%

PGY opened at $15.62 on Friday. The stock’s fifty day simple moving average is $14.09 and its 200 day simple moving average is $16.30. Pagaya Technologies Ltd. has a 1-year low of $10.40 and a 1-year high of $44.99. The stock has a market cap of $1.29 billion, a PE ratio of 14.60 and a beta of 5.35. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) 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 for the quarter. As a group, research analysts expect that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors have recently modified their holdings of the business. Root Financial Partners LLC acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at about $27,000. Aster Capital Management DIFC Ltd raised its stake in Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in Pagaya Technologies in the 4th quarter valued at about $30,000. Quarry LP boosted its holdings in Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after purchasing an additional 1,277 shares during the period. Finally, LSV Asset Management acquired a new position in shares of Pagaya Technologies during the 3rd quarter worth approximately $36,000. Institutional investors own 57.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PGY shares. Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Canaccord Genuity Group restated a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Weiss Ratings cut Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.