Pagaya Technologies (NASDAQ:PGY) Director Sells 7,121 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 7,121 shares of the firm’s stock in a transaction dated Saturday, September 12th. The shares were sold at an average price of $20.21, for a total value of $143,915.41. Following the transaction, the director directly owned 23,904 shares of the company’s stock, valued at $483,099.84. This represents a 22.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tami Rosen also recently made the following trade(s):

• On Thursday, September 3rd, Tami Rosen sold 1,265 shares of Pagaya Technologies stock. The stock was sold at an average price of $23.07, for a total value of $29,183.55.
• On Monday, August 3rd, Tami Rosen sold 28,181 shares of Pagaya Technologies stock. The stock was sold at an average price of $21.98, for a total transaction of $619,418.38.
• On Monday, June 22nd, Tami Rosen sold 9,944 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY traded down $0.45 during trading hours on Tuesday, hitting $21.04. 1,965,098 shares of the company’s stock traded hands, compared to its average volume of 3,586,891. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. The company’s fifty day simple moving average is $19.98 and its two-hundred day simple moving average is $15.83. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 15.47 and a beta of 5.35.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of brokerages recently weighed in on PGY. B. Riley Financial raised their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Citizens Jmp increased their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, July 31st. TD Cowen assumed coverage on Pagaya Technologies in a research note on Thursday, September 3rd. They set a “buy” rating and a $26.00 price objective for the company. Finally, Canaccord Genuity Group lifted their target price on Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Pagaya Technologies has a consensus rating of “Buy” and a consensus price target of $31.25.

Pagaya Technologies Company Profile

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.