Insider Selling: Pagaya Technologies (NASDAQ:PGY) Director Sells $151,148.80 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 9,944 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $15.20, for a total value of $151,148.80. Following the sale, the director owned 37,544 shares of the company’s stock, valued at $570,668.80. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Friday, April 17th, Tami Rosen sold 9,720 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.14, for a total value of $147,160.80.

Pagaya Technologies Trading Down 0.6%

Shares of NASDAQ:PGY traded down $0.09 during trading on Tuesday, reaching $15.00. 2,412,168 shares of the company traded hands, compared to its average volume of 3,868,093. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 14.02 and a beta of 5.35. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. The business’s fifty day moving average is $14.22 and its 200-day moving average is $16.19.

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

Institutional Trading of Pagaya Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PGY. BNP Paribas Financial Markets boosted its holdings in Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after acquiring an additional 1,110,208 shares in the last quarter. Millennium Management LLC lifted its stake in Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after acquiring an additional 961,944 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Pagaya Technologies by 221.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after acquiring an additional 950,443 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Pagaya Technologies by 1,556.3% during the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock valued at $19,952,000 after acquiring an additional 631,435 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Pagaya Technologies by 141.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock worth $12,040,000 after acquiring an additional 602,992 shares during the period. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.50.

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.