Tami Rosen Sells 5,681 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 5,681 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $92,202.63. Following the completion of the sale, the director directly owned 47,488 shares of the company’s stock, valued at approximately $770,730.24. This trade represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 transaction of $147,160.80.

Pagaya Technologies Stock Performance

Pagaya Technologies stock opened at $15.03 on Thursday. The firm has a 50 day simple moving average of $14.02 and a 200-day simple moving average of $16.37. Pagaya Technologies Ltd. has a 1-year low of $10.40 and a 1-year high of $44.99. 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 stock has a market cap of $1.25 billion, a price-to-earnings ratio of 14.05 and a beta of 5.35.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $32.00 price target on shares of Pagaya Technologies in a research note on Monday, May 18th. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Weiss Ratings cut shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Finally, Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Three 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.50.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC boosted its position in shares of Pagaya Technologies by 81.0% during the 1st quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company’s stock worth $1,380,000 after purchasing an additional 53,011 shares during the period. Edgestream Partners L.P. boosted its position in shares of Pagaya Technologies by 353.2% during 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 period. Royal Bank of Canada boosted its position in shares of Pagaya Technologies by 134.6% during the 1st quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock worth $419,000 after purchasing an additional 20,623 shares during the period. Empowered Funds LLC boosted its position in shares of Pagaya Technologies by 4,562.7% during the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock worth $1,359,000 after purchasing an additional 114,159 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Pagaya Technologies by 5.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock worth $176,000 after purchasing an additional 776 shares during the period. 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.