Pagaya Technologies (NASDAQ:PGY) CEO Gal Krubiner Purchases 16,230 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CEO Gal Krubiner acquired 16,230 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were bought at an average cost of $15.43 per share, with a total value of $250,428.90. Following the completion of the acquisition, the chief executive officer directly owned 555,906 shares in the company, valued at approximately $8,577,629.58. This represents a 3.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Pagaya Technologies Stock Up 1.8%

Shares of Pagaya Technologies stock traded up $0.28 on Thursday, hitting $15.48. The company had a trading volume of 3,687,682 shares, compared to its average volume of 3,865,085. Pagaya Technologies Ltd. has a 1 year low of $10.40 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The stock has a 50 day moving average of $14.34 and a 200-day moving average of $16.06. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 14.47 and a beta of 5.35.

Pagaya Technologies (NASDAQ:PGY) last announced 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 company had revenue of $91.63 million for the quarter. As a group, sell-side analysts forecast that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Institutional Investors Weigh In On Pagaya Technologies

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in shares of Pagaya Technologies by 2,722.3% during the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock valued at $3,204,000 after purchasing an additional 294,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after buying an additional 6,365 shares during the last quarter. Millennium Management LLC grew its position in Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after buying an additional 961,944 shares during the period. Goldman Sachs Group Inc. grew its position in Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after buying an additional 359,099 shares during the period. Finally, Legal & General Group Plc increased its holdings in Pagaya Technologies by 19.0% during the second quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock worth $744,000 after buying an additional 5,580 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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