Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) Insider Sells $244,231.52 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Tami Rosen sold 13,814 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $17.68, for a total value of $244,231.52. Following the completion of the transaction, the insider now directly owns 38,181 shares of the company’s stock, valued at approximately $675,040.08. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Pagaya Technologies Stock Up 1.5%

Shares of PGY opened at $18.46 on Friday. The stock has a fifty day simple moving average of $13.27 and a two-hundred day simple moving average of $11.57. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $1.40 billion, a PE ratio of -3.36 and a beta of 5.93. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20.

Wall Street Analyst Weigh In

Several research analysts recently commented on PGY shares. B. Riley reissued a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Stephens initiated coverage on Pagaya Technologies in a research note on Thursday. They issued an “overweight” rating and a $22.00 target price for the company. Finally, JMP Securities raised their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Institutional Trading of Pagaya Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PGY. Frontier Capital Management Co. LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $28,070,000. Millennium Management LLC increased its position in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Pagaya Technologies by 284.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $11,133,000 after purchasing an additional 886,539 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock worth $7,675,000 after purchasing an additional 646,357 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Pagaya Technologies during the 1st quarter worth about $6,465,000. 57.14% of the stock is owned by institutional investors and hedge funds.

About Pagaya Technologies

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.