Pagaya Technologies (NASDAQ:PGY) Insider Sells $187,586.34 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Evangelos Perros sold 11,558 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $16.23, for a total value of $187,586.34. Following the sale, the insider owned 131,241 shares in the company, valued at approximately $2,130,041.43. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Evangelos Perros also recently made the following trade(s):

• On Wednesday, April 1st, Evangelos Perros sold 13,004 shares of Pagaya Technologies stock. The shares were sold at an average price of $11.34, for a total value of $147,465.36.

Pagaya Technologies Stock Down 0.4%

PGY traded down $0.07 during trading on Tuesday, hitting $15.61. 3,644,516 shares of the company’s stock traded hands, compared to its average volume of 3,899,700. The company’s 50 day simple moving average is $13.89 and its two-hundred day simple moving average is $16.49. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month high of $44.99. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 14.59 and a beta of 5.35.

Pagaya Technologies (NASDAQ:PGY) last issued 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 business had revenue of $91.63 million for the quarter. Analysts predict that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Pagaya Technologies by 75.2% during the 4th quarter. Millennium Management LLC now owns 1,738,760 shares of the company’s stock valued at $36,340,000 after buying an additional 746,216 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Pagaya Technologies by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after buying an additional 359,099 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Pagaya Technologies by 5.2% during the 3rd quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock valued at $43,127,000 after buying an additional 71,639 shares during the period. Renaissance Technologies LLC raised its holdings in Pagaya Technologies by 27.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,354,064 shares of the company’s stock worth $28,300,000 after purchasing an additional 290,379 shares during the period. Finally, Nuveen LLC raised its holdings in Pagaya Technologies by 3.7% in the 4th quarter. Nuveen LLC now owns 1,299,274 shares of the company’s stock worth $27,155,000 after purchasing an additional 46,536 shares during the period. 57.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PGY. Canaccord Genuity Group reiterated a “buy” rating and set a $32.00 target price on shares of Pagaya Technologies in a research note on Monday, May 18th. Weiss Ratings downgraded Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 24th. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $34.50.

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.