Pagaya Technologies (NASDAQ:PGY) Insider Sells $187,586.34 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Evangelos Perros sold 11,558 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the completion of the transaction, the insider directly owned 131,241 shares in the company, valued at approximately $2,130,041.43. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, April 1st, Evangelos Perros sold 13,004 shares of Pagaya Technologies stock. The stock was sold at an average price of $11.34, for a total value of $147,465.36.

Pagaya Technologies Stock Performance

Pagaya Technologies stock traded down $0.07 during trading on Tuesday, reaching $15.61. The company had a trading volume of 3,644,516 shares, compared to its average volume of 3,899,700. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The firm’s 50-day simple moving average is $13.89 and its 200 day simple moving average is $16.49. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 14.59 and a beta of 5.35. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25.

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

Analyst Ratings Changes

A number of brokerages recently commented on PGY. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Weiss Ratings lowered Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price target on shares of Pagaya Technologies in a research note on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.50.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new stake in Pagaya Technologies in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd increased 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 worth $29,000 after buying an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new stake in Pagaya Technologies in the 4th quarter worth $30,000. Quarry LP increased its stake in 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 buying an additional 1,277 shares in the last quarter. Finally, LSV Asset Management purchased a new position in shares of Pagaya Technologies during the third quarter valued at about $36,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.