Pagaya Technologies (NASDAQ:PGY) CAO Cory Vieira Sells 2,170 Shares of Company Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 2,170 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $17.04, for a total value of $36,976.80. Following the sale, the chief accounting officer owned 25,160 shares in the company, valued at $428,726.40. The trade was a 7.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Price Performance

Shares of Pagaya Technologies stock traded up $0.37 during trading on Tuesday, reaching $17.37. The company’s stock had a trading volume of 2,879,694 shares, compared to its average volume of 2,380,330. The stock has a 50-day moving average price of $20.39 and a two-hundred day moving average price of $16.44. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 1.12. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $33.12. The stock has a market capitalization of $1.45 billion, a P/E ratio of 5.31 and a beta of 5.35.

Institutional Investors Weigh In On Pagaya Technologies

Several institutional investors have recently modified their holdings of PGY. Allspring Global Investments Holdings LLC grew its position in shares of Pagaya Technologies by 141.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock worth $12,040,000 after buying an additional 602,992 shares during the period. Q Global Advisors LLC boosted its stake in Pagaya Technologies by 324.8% during the 1st quarter. Q Global Advisors LLC now owns 537,551 shares of the company’s stock worth $6,262,000 after acquiring an additional 410,996 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Pagaya Technologies by 614.7% during the 2nd quarter. Squarepoint Ops LLC now owns 252,036 shares of the company’s stock worth $4,600,000 after acquiring an additional 216,770 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Pagaya Technologies by 211.0% during the first quarter. Principal Financial Group Inc. now owns 375,212 shares of the company’s stock valued at $4,371,000 after purchasing an additional 254,550 shares during the period. Finally, Edgestream Partners L.P. increased its stake in Pagaya Technologies by 353.2% in the first quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock valued at $4,354,000 after purchasing an additional 291,291 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Wall Street Analyst Weigh In

PGY has been the topic of a number of research reports. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Jefferies Financial Group boosted their price objective on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. TD Cowen began coverage on Pagaya Technologies in a research note on Thursday, September 3rd. They issued a “buy” rating and a $26.00 target price for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Pagaya Technologies in a research report on Monday, September 14th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pagaya Technologies currently has a consensus rating of “Buy” and an average target price of $31.25.

About Pagaya Technologies

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence and data analytics to facilitate access to credit and investment opportunities. Its technology platform evaluates loan and other credit-related assets, helping financial institutions make lending decisions and connect assets with institutional funding sources.

The company’s Pagaya Network is designed to integrate with banks, fintech companies and other originators. Through the network, Pagaya analyzes consumer credit, personal loan, auto loan and real estate-related assets, among other products, and helps distribute qualifying assets to institutional investors through structured financial vehicles.

Pagaya was founded in 2016 and is headquartered in New York, with roots in Israel.