Pagaya Technologies (NASDAQ:PGY) CEO Gal Krubiner Buys 16,230 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CEO Gal Krubiner bought 16,230 shares of Pagaya Technologies stock in a transaction dated Wednesday, June 24th. The stock was acquired at an average cost of $15.43 per share, for a total transaction of $250,428.90. Following the completion of the transaction, the chief executive officer directly owned 555,906 shares in the company, valued at approximately $8,577,629.58. This trade represents a 3.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Pagaya Technologies Trading Up 1.8%

Shares of NASDAQ PGY opened at $15.48 on Friday. Pagaya Technologies Ltd. has a 1 year low of $10.40 and a 1 year high of $44.99. 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 $14.39 and a 200 day moving average of $15.99. The stock has a market cap of $1.28 billion, a P/E ratio of 14.47 and a beta of 5.35.

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

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently added to or reduced their stakes in PGY. Millennium Management LLC boosted its stake in 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 purchasing an additional 746,216 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Pagaya Technologies by 26.7% during the first 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 last quarter. Two Sigma Investments LP increased its holdings in Pagaya Technologies by 5.2% in the 3rd quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock worth $43,127,000 after buying an additional 71,639 shares in the last quarter. Renaissance Technologies LLC increased 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 buying an additional 290,379 shares in the last quarter. Finally, Nuveen LLC raised its position 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 buying an additional 46,536 shares during the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PGY. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.