Insider Selling: Pagaya Technologies (NASDAQ:PGY) President Sells 9,702 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 9,702 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $10.99, for a total transaction of $106,624.98. Following the completion of the sale, the president directly owned 144,034 shares of the company’s stock, valued at $1,582,933.66. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Sanjiv Das also recently made the following trade(s):

• On Monday, January 5th, Sanjiv Das sold 3,945 shares of Pagaya Technologies stock. The stock was sold at an average price of $22.99, for a total value of $90,695.55.

Pagaya Technologies Trading Up 0.3%

Shares of PGY stock traded up $0.03 during mid-day trading on Monday, hitting $10.99. 2,157,170 shares of the company’s stock were exchanged, compared to its average volume of 4,212,435. The stock has a market cap of $883.55 million, a price-to-earnings ratio of 12.35 and a beta of 5.92. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 1.22. Pagaya Technologies Ltd. has a fifty-two week low of $8.50 and a fifty-two week high of $44.99. The stock has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $24.41.

Pagaya Technologies (NASDAQ:PGY) last released its 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. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The firm had revenue of $334.81 million during the quarter, compared to analyst estimates of $348.75 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Pagaya Technologies

A number of large investors have recently modified their holdings of PGY. Versant Capital Management Inc purchased a new stake in shares of Pagaya Technologies during the 3rd quarter worth about $25,000. Root Financial Partners LLC purchased a new position in Pagaya Technologies in the fourth quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd lifted its position in Pagaya Technologies by 351.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after buying an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new position in Pagaya Technologies during the fourth quarter valued at approximately $30,000. Finally, Quarry LP grew its stake in Pagaya Technologies by 330.8% during the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after buying an additional 1,277 shares during the period. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PGY. Citigroup cut their price objective on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Canaccord Genuity Group lowered their target price on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Freedom Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

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.