Pagaya Technologies (NASDAQ:PGY) CFO Evangelos Perros Sells 8,425 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 8,425 shares of the 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 transaction, the chief financial officer owned 112,412 shares of the company’s stock, valued at approximately $1,235,407.88. This represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 value of $224,152.50.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $10.99 on Tuesday. Pagaya Technologies Ltd. has a 52-week low of $8.50 and a 52-week high of $44.99. The company has a market cap of $883.60 million, a P/E ratio of 12.35 and a beta of 5.92. The company has a debt-to-equity ratio of 1.22, a quick ratio of 10.55 and a current ratio of 10.55. The stock’s 50-day simple moving average is $16.58 and its 200 day simple moving average is $24.22.

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

Analyst Ratings Changes

PGY has been the subject of several analyst reports. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Canaccord Genuity Group cut their price target on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. Finally, Jefferies Financial Group dropped their target price on shares of Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.11.

Hedge Funds Weigh In On Pagaya Technologies

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc acquired a new stake in shares of Pagaya Technologies during the 3rd quarter worth about $25,000. Root Financial Partners LLC acquired a new position in Pagaya Technologies in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd grew its stake in Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after buying an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC bought a new position in Pagaya Technologies in the 4th quarter valued at about $30,000. Finally, Quarry LP lifted its position in Pagaya Technologies by 330.8% during the fourth 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 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.