Tami Rosen Sells 9,944 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 9,944 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $15.20, for a total transaction of $151,148.80. Following the completion of the transaction, the director directly owned 37,544 shares in the company, valued at approximately $570,668.80. The trade was a 20.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tami Rosen also recently made the following trade(s):

• On Friday, June 12th, Tami Rosen sold 5,681 shares of Pagaya Technologies stock. The shares were sold at an average price of $16.23, for a total value of $92,202.63.
• On Friday, April 17th, Tami Rosen sold 9,720 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.14, for a total transaction of $147,160.80.

Pagaya Technologies Price Performance

Shares of PGY traded down $0.09 during trading hours on Tuesday, reaching $15.00. 2,412,168 shares of the stock traded hands, compared to its average volume of 3,868,093. 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 Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The company’s 50-day moving average price is $14.22 and its two-hundred day moving average price is $16.19. The company has a market cap of $1.24 billion, a P/E ratio of 14.02 and a beta of 5.35.

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

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Moody National Bank Trust Division raised its holdings in shares of Pagaya Technologies by 2.4% in the fourth 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 lifted its stake in Pagaya Technologies by 1.0% in the fourth 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 during the period. The Manufacturers Life Insurance Company grew its holdings in 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 position in 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 purchasing an additional 790 shares during the period. Finally, MetLife Investment Management LLC increased its position in 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 purchasing an additional 867 shares during the period. 57.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

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