Pagaya Technologies (NASDAQ:PGY) CAO Cory Vieira Sells 2,140 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 2,140 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total transaction of $32,121.40. Following the sale, the chief accounting officer directly owned 18,179 shares of the company’s stock, valued at approximately $272,866.79. The trade was a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Trading Up 10.7%

NASDAQ:PGY opened at $15.46 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. The firm has a 50-day moving average of $13.39 and a 200-day moving average of $16.84. The company has a market cap of $1.28 billion, a PE ratio of 14.45 and a beta of 5.35. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. The business had revenue of $91.63 million for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. As a group, equities research analysts expect that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently added to or reduced their stakes in PGY. Root Financial Partners LLC bought a new stake in Pagaya Technologies in the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd grew its position in Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in Pagaya Technologies in the 4th quarter worth about $30,000. Quarry LP grew its position in Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after purchasing an additional 1,277 shares in the last quarter. Finally, LSV Asset Management bought a new stake in Pagaya Technologies in the 3rd quarter worth about $36,000. 57.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PGY shares. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Citigroup decreased their target price on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Benchmark decreased their target price on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Weiss Ratings downgraded shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of “Buy” and an average target price of $33.11.

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.