Sanjiv Das Sells 9,702 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 9,702 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $10.99, for a total value of $106,624.98. Following the sale, the president directly owned 144,034 shares in the company, valued at approximately $1,582,933.66. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, January 5th, Sanjiv Das sold 3,945 shares of Pagaya Technologies stock. The stock was sold at an average price of $22.99, for a total value of $90,695.55.

Pagaya Technologies Price Performance

PGY opened at $10.99 on Wednesday. The stock’s 50 day moving average price is $16.33 and its 200 day moving average price is $24.04. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. The stock has a market cap of $883.60 million, a P/E ratio of 12.35 and a beta of 5.92. Pagaya Technologies Ltd. has a 12 month low of $8.50 and a 12 month high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $334.81 million during the quarter, compared to analyst estimates of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, research analysts predict that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its position in Pagaya Technologies by 75.2% in the fourth quarter. Millennium Management LLC now owns 1,738,760 shares of the company’s stock worth $36,340,000 after acquiring an additional 746,216 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Pagaya Technologies by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after purchasing an additional 359,099 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of 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 purchasing an additional 71,639 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Pagaya Technologies by 436.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock worth $29,534,000 after purchasing an additional 1,127,242 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of 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 purchasing an additional 290,379 shares in the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PGY. Canaccord Genuity Group decreased their target price on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Citigroup decreased their price objective on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate 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.