Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Avital Pardo Sells 237,748 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Avital Pardo sold 237,748 shares of Pagaya Technologies stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the completion of the sale, the chief technology officer now owns 2,401,528 shares of the company’s stock, valued at $36,407,164.48. This trade represents a 9.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pagaya Technologies Price Performance

PGY stock opened at $14.96 on Wednesday. The company has a 50 day simple moving average of $10.83 and a 200 day simple moving average of $10.78. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -2.72 and a beta of 5.88. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $19.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The company had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. Research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of Pagaya Technologies by 1.8% in the 4th quarter. Invesco Ltd. now owns 48,030 shares of the company’s stock valued at $446,000 after purchasing an additional 864 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Pagaya Technologies by 10.9% in the 4th quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock valued at $104,000 after purchasing an additional 1,092 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Pagaya Technologies by 9.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock valued at $130,000 after purchasing an additional 1,094 shares during the last quarter. Swiss National Bank boosted its stake in shares of Pagaya Technologies by 1.7% in the 1st quarter. Swiss National Bank now owns 76,883 shares of the company’s stock valued at $806,000 after purchasing an additional 1,300 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Pagaya Technologies by 15.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock valued at $101,000 after purchasing an additional 1,532 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. B. Riley reiterated a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Citigroup upgraded shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, JMP Securities boosted their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.61.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.