Cory Vieira Sells 2,140 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 2,140 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the completion of the transaction, the chief accounting officer directly owned 18,179 shares in the company, valued at approximately $272,866.79. This trade represents a 10.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Stock Performance

PGY stock opened at $14.56 on Friday. The business’s fifty day moving average is $13.44 and its 200-day moving average is $16.83. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25. The company has a market cap of $1.21 billion, a P/E ratio of 13.61 and a beta of 5.35. Pagaya Technologies Ltd. has a twelve month low of $10.40 and a twelve month high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. The business 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%. Equities research analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. LSV Asset Management acquired a new stake in shares of Pagaya Technologies in the 3rd quarter valued at about $36,000. Root Financial Partners LLC acquired a new stake in shares of Pagaya Technologies in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd raised its stake 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 valued at $29,000 after purchasing an additional 1,084 shares during the period. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies in the 4th quarter valued at about $30,000. Finally, Quarry LP raised its stake in shares of Pagaya Technologies by 330.8% in the 4th 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 period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PGY shares. Weiss Ratings downgraded Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Citigroup dropped their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Jefferies Financial Group dropped their price objective on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Benchmark dropped their price objective on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.11.

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.