Insider Selling: Pagaya Technologies (NASDAQ:PGY) President Sells $243,672.00 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 14,300 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $243,672.00. Following the transaction, the president directly owned 173,864 shares in the company, valued at approximately $2,962,642.56. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Saturday, September 12th, Sanjiv Das sold 13,301 shares of Pagaya Technologies stock. The stock was sold at an average price of $20.21, for a total value of $268,813.21.
• On Monday, August 3rd, Sanjiv Das sold 21,289 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.00, for a total transaction of $468,358.00.

Pagaya Technologies Trading Up 0.7%

PGY stock opened at $17.44 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of 12.82 and a beta of 5.50. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $32.04. The company’s 50 day moving average price is $20.42 and its two-hundred day moving average price is $16.53. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PGY. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pagaya Technologies in a research report on Monday, September 14th. TD Cowen assumed coverage on shares of Pagaya Technologies in a research report on Thursday, September 3rd. They set a “buy” rating and a $26.00 price target for the company. B. Riley Financial raised 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. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Jefferies Financial Group boosted their target price on Pagaya Technologies from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $31.25.

Institutional Trading of Pagaya Technologies

A number of institutional investors have recently modified their holdings of PGY. Allspring Global Investments Holdings LLC increased its stake in shares of Pagaya Technologies by 141.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock valued at $12,040,000 after buying an additional 602,992 shares during the period. Q Global Advisors LLC lifted its stake in Pagaya Technologies by 324.8% in the first 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. lifted its stake in Pagaya Technologies by 353.2% in the first 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 stake in Pagaya Technologies by 211.0% in the first quarter. Principal Financial Group Inc. now owns 375,212 shares of the company’s stock worth $4,371,000 after acquiring an additional 254,550 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Pagaya Technologies by 614.7% in the second quarter. Squarepoint Ops LLC now owns 252,036 shares of the company’s stock valued at $4,600,000 after acquiring an additional 216,770 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.