Insider Selling: Pagaya Technologies (NASDAQ:PGY) CAO Sells $32,121.40 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 2,140 shares of Pagaya Technologies stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the transaction, the chief accounting officer directly owned 18,179 shares of the company’s stock, valued at approximately $272,866.79. The trade was a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Stock Down 5.8%

Shares of NASDAQ PGY opened at $14.56 on Friday. The business has a fifty day moving average of $13.44 and a two-hundred day moving average of $16.83. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The stock has a market cap of $1.21 billion, a PE ratio of 13.61 and a beta of 5.35.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The business had revenue of $91.63 million during the quarter. As a group, equities research analysts expect that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGY. Root Financial Partners LLC acquired a new position in Pagaya Technologies in the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd boosted its stake in Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after buying an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter valued at about $30,000. Quarry LP boosted its stake in shares of Pagaya Technologies by 330.8% during the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after purchasing an additional 1,277 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in shares of Pagaya Technologies during the third quarter valued at about $36,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PGY. Weiss Ratings lowered Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Citigroup decreased their price objective on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research report on Monday, May 18th. Jefferies Financial Group cut their target price on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pagaya Technologies presently has an average rating of “Buy” and an average price target 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.