Pagaya Technologies (NASDAQ:PGY) CAO Sells $23,080.14 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 1,458 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $15.83, for a total transaction of $23,080.14. Following the completion of the transaction, the chief accounting officer directly owned 20,959 shares of the company’s stock, valued at approximately $331,780.97. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cory Vieira also recently made the following trade(s):

• On Tuesday, June 2nd, Cory Vieira sold 2,140 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.01, for a total transaction of $32,121.40.

Pagaya Technologies Stock Up 2.8%

Shares of NASDAQ PGY opened at $18.77 on Thursday. The firm’s 50-day moving average is $14.60 and its two-hundred day moving average is $15.78. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. The company has a market capitalization of $1.56 billion, a PE ratio of 17.54 and a beta of 5.31. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month high of $44.99.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 target price on shares of Pagaya Technologies in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of “Buy” and an average price target of $35.86.

Institutional Investors Weigh In On Pagaya Technologies

Several large investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC lifted its position in Pagaya Technologies by 81.0% in the 1st quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company’s stock valued at $1,380,000 after purchasing an additional 53,011 shares during the last quarter. Edgestream Partners L.P. grew its position in Pagaya Technologies by 353.2% in the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock worth $4,354,000 after purchasing an additional 291,291 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Pagaya Technologies by 134.6% in the first quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock valued at $419,000 after purchasing an additional 20,623 shares during the period. Empowered Funds LLC increased its stake in shares of Pagaya Technologies by 4,562.7% in the first quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after purchasing an additional 114,159 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Pagaya Technologies by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock valued at $176,000 after buying an additional 776 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

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.