Cory Vieira Sells 1,458 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 1,458 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $15.83, for a total transaction of $23,080.14. Following the transaction, the chief accounting officer directly owned 20,959 shares in the company, valued at $331,780.97. This represents a 6.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cory Vieira also recently made the following trade(s):

• On Tuesday, June 2nd, Cory Vieira sold 2,140 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.01, for a total value of $32,121.40.

Pagaya Technologies Stock Performance

PGY opened at $18.25 on Wednesday. The company has a fifty day moving average of $14.53 and a 200 day moving average of $15.82. Pagaya Technologies Ltd. has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.06 and a beta of 5.35. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09.

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

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in Pagaya Technologies during the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after purchasing an additional 1,084 shares during the period. Transamerica Financial Advisors LLC acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at about $30,000. Quarry LP raised its stake in shares of Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Pagaya Technologies in the fourth quarter worth about $52,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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