Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Sells $931,792.65 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Avital Pardo sold 48,913 shares of Pagaya Technologies stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $19.05, for a total transaction of $931,792.65. Following the transaction, the chief technology officer now directly owns 1,115,159 shares of the company’s stock, valued at $21,243,778.95. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Avital Pardo also recently made the following trade(s):

• On Monday, June 16th, Avital Pardo sold 4,939 shares of Pagaya Technologies stock. The shares were sold at an average price of $19.01, for a total transaction of $93,890.39.
• On Monday, May 12th, Avital Pardo sold 237,748 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $18.85 on Thursday. The firm has a market cap of $1.43 billion, a PE ratio of -3.72 and a beta of 5.93. Pagaya Technologies Ltd. has a 12 month low of $8.20 and a 12 month high of $19.20. The company’s fifty day simple moving average is $13.99 and its 200-day simple moving average is $11.79. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors have recently added to or reduced their stakes in PGY. Frontier Capital Management Co. LLC acquired a new position in Pagaya Technologies during the fourth quarter worth $28,070,000. Millennium Management LLC increased its holdings in shares of Pagaya Technologies by 320.1% in the first 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. Point72 Asset Management L.P. grew its stake in shares of Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock valued at $11,133,000 after acquiring an additional 886,539 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock valued at $7,675,000 after acquiring an additional 646,357 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Pagaya Technologies in the first quarter valued at about $6,465,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PGY shares. Stephens started coverage on shares of Pagaya Technologies in a research report on Thursday, June 12th. They set an “overweight” rating and a $22.00 price target for the company. B. Riley restated a “buy” rating and set a $36.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. Finally, Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

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.