Insider Selling: Pagaya Technologies (NASDAQ:PGY) Director Sells $619,418.38 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 28,181 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $21.98, for a total value of $619,418.38. Following the completion of the sale, the director directly owned 16,665 shares of the company’s stock, valued at $366,296.70. This trade represents a 62.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, June 22nd, Tami Rosen sold 9,944 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.20, for a total value of $151,148.80.
• On Friday, June 12th, Tami Rosen sold 5,681 shares of Pagaya Technologies stock. The stock was sold at an average price of $16.23, for a total value of $92,202.63.

Pagaya Technologies Stock Down 1.7%

Shares of NASDAQ PGY opened at $21.42 on Friday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 15.75 and a beta of 5.33. The company has a 50-day moving average price of $16.91 and a 200-day moving average price of $14.92. 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 1.12, a current ratio of 11.08 and a quick ratio of 11.08.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.53. The business had revenue of $317.94 million for the quarter, compared to analysts’ expectations of $323.85 million. Pagaya Technologies had a return on equity of 51.56% and a net margin of 9.12%.The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, equities research analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Institutional Trading of Pagaya Technologies

Several hedge funds have recently added to or reduced their stakes in PGY. Root Financial Partners LLC bought a new position in shares of Pagaya Technologies during the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd raised its holdings in shares of 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 during the period. Transamerica Financial Advisors LLC bought a new stake in shares of Pagaya Technologies in the 4th quarter worth approximately $30,000. Quarry LP lifted its stake in Pagaya Technologies by 330.8% in the fourth 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 last quarter. Finally, Empowered Funds LLC purchased a new position in Pagaya Technologies in the fourth quarter valued at approximately $52,000. Institutional investors own 57.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PGY. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Citizens Jmp increased their price objective on shares of Pagaya Technologies from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, July 31st. B. Riley Financial lifted their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Canaccord Genuity Group upped their target price on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Pagaya Technologies presently has an average rating of “Buy” and an average price target of $32.43.

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.