Pagaya Technologies (NASDAQ:PGY) President Sells $90,695.55 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 3,945 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $90,695.55. Following the transaction, the president owned 129,986 shares of the company’s stock, valued at approximately $2,988,378.14. This represents a 2.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pagaya Technologies Stock Performance

NASDAQ:PGY opened at $24.27 on Thursday. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16. The firm’s fifty day simple moving average is $23.63 and its 200 day simple moving average is $28.24. The stock has a market cap of $1.95 billion, a P/E ratio of -9.09 and a beta of 5.86. Pagaya Technologies Ltd. has a twelve month low of $8.27 and a twelve month high of $44.99.

Wall Street Analyst Weigh In

PGY has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Tuesday, October 14th. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Canaccord Genuity Group increased their target price on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Wall Street Zen lowered Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Keefe, Bruyette & Woods reduced their price target on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Pagaya Technologies presently has an average rating of “Moderate Buy” and an average price target of $37.25.

Hedge Funds Weigh In On Pagaya Technologies

Several large investors have recently made changes to their positions in PGY. JPMorgan Chase & Co. increased its holdings in shares of Pagaya Technologies by 436.9% during the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after acquiring an additional 1,127,242 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Pagaya Technologies by 1,231.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after purchasing an additional 1,110,208 shares in the last quarter. Millennium Management LLC grew its position 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 purchasing an additional 961,944 shares during the last quarter. Marshall Wace LLP increased its stake in 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 purchasing an additional 631,435 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Pagaya Technologies by 113.1% during the 3rd quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock valued at $32,505,000 after purchasing an additional 581,017 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.