Pagaya Technologies (NASDAQ:PGY) CAO Cory Vieira Sells 2,140 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 2,140 shares of Pagaya Technologies stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the completion of the sale, the chief accounting officer directly owned 18,179 shares of the company’s stock, valued at $272,866.79. This trade represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Trading Up 10.7%

Shares of NASDAQ PGY traded up $1.50 during midday trading on Thursday, hitting $15.46. The stock had a trading volume of 6,807,756 shares, compared to its average volume of 3,905,624. The company’s 50-day simple moving average is $13.30 and its 200 day simple moving average is $16.90. The firm has a market cap of $1.28 billion, a P/E ratio of 14.45 and a beta of 5.35. Pagaya Technologies Ltd. has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY) last released its earnings results on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The firm had revenue of $91.63 million during the quarter. Research analysts anticipate that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

Institutional Trading of Pagaya Technologies

A number of institutional investors have recently modified their holdings of PGY. Root Financial Partners LLC bought a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $27,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after purchasing an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $30,000. Quarry LP lifted its holdings 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 in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Pagaya Technologies in the third quarter valued at about $36,000. 57.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PGY has been the topic of several analyst reports. Benchmark cut their target price on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Canaccord Genuity Group reissued a “buy” rating and issued a $32.00 target price on shares of Pagaya Technologies in a research note on Monday, May 18th. Citigroup cut their target price on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Jefferies Financial Group cut their target price on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Weiss Ratings lowered Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Pagaya Technologies has a consensus rating of “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.