Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Sells $183,643.83 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Avital Pardo sold 11,601 shares of Pagaya Technologies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $15.83, for a total value of $183,643.83. Following the sale, the chief technology officer now owns 433,125 shares in the company, valued at $6,856,368.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Avital Pardo also recently made the following trade(s):

• On Tuesday, July 23rd, Avital Pardo sold 200 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.61, for a total value of $3,122.00.

Pagaya Technologies Stock Down 5.8 %

Pagaya Technologies stock opened at $14.22 on Monday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -10.09 and a beta of 6.44. The firm has a 50 day simple moving average of $13.23 and a 200 day simple moving average of $12.77. Pagaya Technologies Ltd. has a 1-year low of $8.56 and a 1-year high of $33.84. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.61.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). The company had revenue of $237.00 million during the quarter, compared to analysts’ expectations of $229.45 million. Pagaya Technologies had a negative net margin of 10.53% and a negative return on equity of 4.23%. During the same quarter last year, the firm posted ($0.48) earnings per share. On average, analysts predict that Pagaya Technologies Ltd. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup started coverage on shares of Pagaya Technologies in a report on Friday, May 24th. They issued a “neutral” rating and a $14.00 price target on the stock. Keefe, Bruyette & Woods started coverage on shares of Pagaya Technologies in a research report on Monday, June 17th. They set an “outperform” rating and a $23.00 target price for the company. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price target on shares of Pagaya Technologies in a research note on Thursday, May 9th. Benchmark reiterated a “buy” rating and issued a $22.00 price objective on shares of Pagaya Technologies in a research note on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PGY. nVerses Capital LLC purchased a new stake in shares of Pagaya Technologies in the second quarter worth about $74,000. SG Americas Securities LLC bought a new stake in Pagaya Technologies during the 2nd quarter worth approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Pagaya Technologies in the 2nd quarter worth approximately $166,000. Cornerstone Investment Partners LLC bought a new position in Pagaya Technologies in the 1st quarter valued at $158,000. Finally, Castle Hook Partners LP bought a new position in Pagaya Technologies in the 1st quarter valued at $188,000. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.