Pagaya Technologies (NASDAQ:PGY) CFO Evangelos Perros Sells 8,425 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 8,425 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $10.99, for a total transaction of $92,590.75. Following the sale, the chief financial officer owned 112,412 shares in the company, valued at approximately $1,235,407.88. The trade was a 6.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Evangelos Perros also recently made the following trade(s):

• On Monday, January 5th, Evangelos Perros sold 9,750 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.99, for a total transaction of $224,152.50.

Pagaya Technologies Stock Up 0.3%

NASDAQ PGY traded up $0.03 during mid-day trading on Monday, reaching $10.99. The stock had a trading volume of 2,157,170 shares, compared to its average volume of 4,212,435. The stock has a market cap of $883.55 million, a PE ratio of 12.35 and a beta of 5.92. Pagaya Technologies Ltd. has a 1 year low of $8.50 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. The company has a fifty day moving average price of $16.84 and a 200 day moving average price of $24.41.

Pagaya Technologies (NASDAQ:PGY) last issued 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. The business had revenue of $334.81 million for the quarter, compared to the consensus estimate of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. On average, research analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PGY. Millennium Management LLC grew its holdings in shares of Pagaya Technologies by 75.2% in the fourth quarter. Millennium Management LLC now owns 1,738,760 shares of the company’s stock worth $36,340,000 after acquiring an additional 746,216 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Pagaya Technologies by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after acquiring an additional 359,099 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Pagaya Technologies by 5.2% in the third quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock worth $43,127,000 after buying an additional 71,639 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Pagaya Technologies by 436.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock worth $29,534,000 after acquiring an additional 1,127,242 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Pagaya Technologies by 27.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,354,064 shares of the company’s stock valued at $28,300,000 after purchasing an additional 290,379 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PGY. Keefe, Bruyette & Woods dropped their price objective on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 2nd. Weiss Ratings raised Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Benchmark lowered their target price on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Citigroup dropped their price target 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. Finally, Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.