Insider Selling: Pagaya Technologies (NASDAQ:PGY) CFO Sells $92,590.75 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 8,425 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $10.99, for a total transaction of $92,590.75. Following the completion of the sale, the chief financial officer directly owned 112,412 shares of the company’s stock, valued at $1,235,407.88. The trade was a 6.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Evangelos Perros also recently made the following trade(s):

• On Monday, January 5th, Evangelos Perros sold 9,750 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.99, for a total transaction of $224,152.50.

Pagaya Technologies Stock Down 2.1%

PGY stock opened at $10.76 on Thursday. Pagaya Technologies Ltd. has a 52 week low of $8.50 and a 52 week high of $44.99. The company has a market capitalization of $865.10 million, a price-to-earnings ratio of 12.09 and a beta of 5.92. The firm’s 50-day moving average is $16.06 and its two-hundred day moving average is $23.94. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 1.22.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. The company had revenue of $334.81 million during the quarter, compared to analyst estimates of $348.75 million. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, January 2nd. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Citigroup cut their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Freedom Capital raised Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings raised Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Institutional Trading of Pagaya Technologies

A number of large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new position in Pagaya Technologies in the third quarter worth approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Pagaya Technologies by 351.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after acquiring an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter worth $30,000. Finally, Quarry LP grew its holdings in shares of Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after acquiring an additional 1,277 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

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.