Sanjiv Das Sells 21,289 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 21,289 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $22.00, for a total transaction of $468,358.00. Following the completion of the sale, the president directly owned 144,186 shares of the company’s stock, valued at $3,172,092. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, June 25th, Sanjiv Das sold 14,000 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.83, for a total transaction of $221,620.00.
• On Friday, June 12th, Sanjiv Das sold 13,309 shares of Pagaya Technologies stock. The shares were sold at an average price of $16.23, for a total transaction of $216,005.07.

Pagaya Technologies Price Performance

Shares of PGY stock opened at $21.80 on Thursday. The firm has a fifty day simple moving average of $16.76 and a 200-day simple moving average of $14.92. The company has a market capitalization of $1.81 billion, a PE ratio of 16.03 and a beta of 5.33. Pagaya Technologies Ltd. has a twelve month low of $10.40 and a twelve month high of $44.99. 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 (NASDAQ:PGY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.53. The firm had revenue of $317.94 million for the quarter, compared to the consensus estimate of $323.85 million. Pagaya Technologies had a net margin of 9.12% and a return on equity of 51.56%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities research analysts anticipate that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PGY. Root Financial Partners LLC bought a new position in shares of Pagaya Technologies in the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd grew its position in shares of Pagaya Technologies by 351.9% during 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 acquired a new stake in Pagaya Technologies during the fourth quarter worth about $30,000. Quarry LP raised 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 acquiring an additional 1,277 shares during the period. Finally, Empowered Funds LLC bought a new position in Pagaya Technologies in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PGY. Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. B. Riley Financial upped their target price on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Citizens Jmp lifted their price target on shares of Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, July 31st. Finally, Canaccord Genuity Group upped their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $32.43.

Pagaya Technologies Company Profile

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.