Pagaya Technologies (NASDAQ:PGY) President Sells $221,620.00 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 14,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $15.83, for a total value of $221,620.00. Following the completion of the sale, the president owned 165,475 shares of the company’s stock, valued at approximately $2,619,469.25. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, June 12th, Sanjiv Das sold 13,309 shares of Pagaya Technologies stock. The stock was sold at an average price of $16.23, for a total value of $216,005.07.

Pagaya Technologies Stock Up 2.8%

Shares of NASDAQ:PGY opened at $18.77 on Thursday. The business’s 50 day simple moving average is $14.60 and its two-hundred day simple moving average is $15.78. The firm has a market cap of $1.56 billion, a P/E ratio of 17.54 and a beta of 5.31. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data 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 for the quarter. As a group, research analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in Pagaya Technologies during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd increased its stake in Pagaya Technologies by 351.9% in the 4th 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 during the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $30,000. Quarry LP lifted its position in shares of Pagaya Technologies by 330.8% during the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after buying an additional 1,277 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Pagaya Technologies in the 4th quarter worth approximately $52,000. 57.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PGY has been the topic of a number of recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $35.86.

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.