Pagaya Technologies (NASDAQ:PGY) CAO Sells $36,976.80 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 2,170 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $36,976.80. Following the transaction, the chief accounting officer directly owned 25,160 shares of the company’s stock, valued at approximately $428,726.40. The trade was a 7.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $17.44 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. Pagaya Technologies Ltd. has a 1-year low of $10.40 and a 1-year high of $32.04. The business has a 50 day simple moving average of $20.42 and a two-hundred day simple moving average of $16.53. The stock has a market capitalization of $1.46 billion, a PE ratio of 12.82 and a beta of 5.50.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in Pagaya Technologies by 60.7% during the second quarter. Tidal Investments LLC now owns 78,221 shares of the company’s stock worth $1,428,000 after buying an additional 29,533 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Pagaya Technologies in the second quarter valued at $391,000. Engineers Gate Manager LP lifted its holdings in shares of Pagaya Technologies by 158.5% in the 2nd quarter. Engineers Gate Manager LP now owns 130,172 shares of the company’s stock worth $2,376,000 after acquiring an additional 79,810 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Pagaya Technologies in the 2nd quarter worth about $37,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Pagaya Technologies by 614.7% during the 2nd quarter. Squarepoint Ops LLC now owns 252,036 shares of the company’s stock worth $4,600,000 after purchasing an additional 216,770 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PGY shares. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday. B. Riley Financial increased their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Canaccord Genuity Group lifted their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Pagaya Technologies in a report on Monday, September 14th. Finally, TD Cowen initiated coverage on shares of Pagaya Technologies in a research report on Thursday, September 3rd. They set a “buy” rating and a $26.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pagaya Technologies currently has an average rating of “Buy” and a consensus target price of $31.25.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence, machine learning and data analytics to connect financial institutions with institutional investors. Its technology analyzes large amounts of data to assess credit and other asset characteristics, helping partners originate, manage and fund assets while providing investors with access to diversified investment opportunities.

The company’s platform has supported asset classes including personal loans, auto loans and residential real estate assets.