Pagaya Technologies (NASDAQ:PGY) Director Sells $143,915.41 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 7,121 shares of Pagaya Technologies stock in a transaction on Saturday, September 12th. The stock was sold at an average price of $20.21, for a total value of $143,915.41. Following the completion of the sale, the director directly owned 23,904 shares of the company’s stock, valued at approximately $483,099.84. The trade was a 22.95% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 shares were 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.
• 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 value of $151,148.80.

Pagaya Technologies Price Performance

NASDAQ PGY opened at $20.56 on Friday. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. The stock has a 50-day moving average of $20.18 and a 200 day moving average of $16.02. 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 has a market capitalization of $1.72 billion, a price-to-earnings ratio of 15.12 and a beta of 5.35.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

PGY has been the subject of a number of research analyst reports. TD Cowen initiated coverage on shares of Pagaya Technologies in a research note on Thursday, September 3rd. They issued a “buy” rating and a $26.00 price target for the company. Canaccord Genuity Group increased their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. 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. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group increased their price target on Pagaya Technologies from $23.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $31.25.

About Pagaya Technologies

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.