Evangelos Perros Sells 11,558 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Evangelos Perros sold 11,558 shares of Pagaya Technologies stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $187,586.34. Following the completion of the transaction, the insider owned 131,241 shares in the company, valued at $2,130,041.43. This trade represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $147,465.36.

Pagaya Technologies Stock Performance

Shares of PGY opened at $15.03 on Thursday. The company has a market capitalization of $1.25 billion, a PE ratio of 14.05 and a beta of 5.35. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. 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 company’s fifty day moving average price is $14.02 and its 200 day moving average price is $16.37.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PGY. Moody National Bank Trust Division boosted its position in shares of Pagaya Technologies by 2.4% during the 4th quarter. Moody National Bank Trust Division now owns 28,978 shares of the company’s stock valued at $606,000 after acquiring an additional 666 shares in the last quarter. Main Management ETF Advisors LLC boosted its position 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 valued at $1,506,000 after acquiring an additional 736 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position 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 valued at $176,000 after acquiring an additional 776 shares in the last quarter. SBI Securities Co. Ltd. boosted its position 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 in the last quarter. Finally, MetLife Investment Management LLC boosted its position 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 in the last quarter. Institutional investors own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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