Pagaya Technologies (NASDAQ:PGY) Director Tami Rosen Sells 5,681 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 5,681 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $92,202.63. Following the completion of the sale, the director owned 47,488 shares in the company, valued at $770,730.24. The trade was a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Friday, April 17th, Tami Rosen sold 9,720 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.14, for a total transaction of $147,160.80.

Pagaya Technologies Stock Down 0.4%

NASDAQ PGY opened at $15.61 on Wednesday. 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 company’s 50 day simple moving average is $13.97 and its 200 day simple moving average is $16.43. Pagaya Technologies Ltd. has a 12 month low of $10.40 and a 12 month high of $44.99. The company has a market capitalization of $1.29 billion, a P/E ratio of 14.59 and a beta of 5.35.

Pagaya Technologies (NASDAQ:PGY) last released its earnings results on Sunday, March 22nd. The company reported ($40.85) EPS 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. Equities research analysts expect that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in shares of Pagaya Technologies by 1,231.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after purchasing an additional 1,110,208 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after purchasing an additional 961,944 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Pagaya Technologies by 221.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after purchasing an additional 950,443 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Pagaya Technologies by 1,556.3% in the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock valued at $19,952,000 after purchasing an additional 631,435 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Pagaya Technologies by 141.5% in 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 purchasing an additional 602,992 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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. Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, 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.