Tami Rosen Sells 5,905 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Tami Rosen sold 5,905 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $10.99, for a total value of $64,895.95. Following the completion of the transaction, the insider owned 47,264 shares in the company, valued at $519,431.36. This represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, December 19th, Tami Rosen sold 7,561 shares of Pagaya Technologies stock. The stock was sold at an average price of $30.73, for a total value of $232,349.53.

Pagaya Technologies Price Performance

PGY stock opened at $10.99 on Wednesday. Pagaya Technologies Ltd. has a 52-week low of $8.50 and a 52-week high of $44.99. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 1.22. The stock has a market cap of $883.60 million, a price-to-earnings ratio of 12.35 and a beta of 5.92. The business has a fifty day moving average of $16.33 and a two-hundred day moving average of $24.04.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. The business had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. As a group, research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PGY has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Benchmark dropped their price target on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Jefferies Financial Group decreased their price objective on shares of Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Citigroup lowered their price objective on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in Pagaya Technologies in the 3rd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd lifted its position in shares of Pagaya Technologies by 351.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $30,000. Finally, Quarry LP boosted its stake in shares of Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after purchasing an additional 1,277 shares during the period. 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.