Insider Selling: Pagaya Technologies (NASDAQ:PGY) Director Sells $35,410.38 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 1,986 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $17.83, for a total transaction of $35,410.38. Following the completion of the sale, the director directly owned 13,414 shares in the company, valued at $239,171.62. This trade represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, September 18th, Tami Rosen sold 8,504 shares of Pagaya Technologies stock. The stock was sold at an average price of $20.38, for a total transaction of $173,311.52.
• On Saturday, September 12th, Tami Rosen sold 7,121 shares of Pagaya Technologies stock. The stock was sold at an average price of $20.21, for a total value of $143,915.41.
• 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 shares were sold at an average price of $21.98, for a total value of $619,418.38.

Pagaya Technologies Trading Up 2.3%

Shares of PGY stock traded up $0.42 on Monday, hitting $18.40. The stock had a trading volume of 1,811,901 shares, compared to its average volume of 3,526,248. The company’s 50 day moving average price is $20.47 and its 200-day moving average price is $16.58. Pagaya Technologies Ltd. has a 1 year low of $10.40 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. The firm has a market capitalization of $1.54 billion, a P/E ratio of 13.53 and a beta of 5.50.

Institutional Investors Weigh In On Pagaya Technologies

A number of large investors have recently modified their holdings of PGY. Engineers Gate Manager LP boosted its holdings in shares of Pagaya Technologies by 158.5% in the second quarter. Engineers Gate Manager LP now owns 130,172 shares of the company’s stock valued at $2,376,000 after acquiring an additional 79,810 shares during the period. Empowered Funds LLC increased its holdings in shares of Pagaya Technologies by 4,562.7% in the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after acquiring an additional 114,159 shares during the period. SPX Gestao de Recursos Ltda raised its position in Pagaya Technologies by 49.7% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 180,100 shares of the company’s stock valued at $2,098,000 after purchasing an additional 59,800 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Pagaya Technologies in the 1st quarter valued at $1,426,000. Finally, Globeflex Capital L P acquired a new stake in Pagaya Technologies during the 2nd quarter worth $2,244,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Jefferies Financial Group increased their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Citizens Jmp upped their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. Finally, B. Riley Financial increased their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.25.

About Pagaya Technologies

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence, machine learning and data analytics to connect financial institutions with institutional investors. Its technology analyzes large amounts of data to assess credit and other asset characteristics, helping partners originate, manage and fund assets while providing investors with access to diversified investment opportunities.

The company’s platform has supported asset classes including personal loans, auto loans and residential real estate assets.