Pagaya Technologies (NASDAQ:PGY) President Sanjiv Das Sells 13,309 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 13,309 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $216,005.07. Following the transaction, the president directly owned 154,475 shares in the company, valued at approximately $2,507,129.25. The trade was a 7.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Trading Down 0.4%

Shares of PGY stock opened at $15.61 on Wednesday. The company’s 50-day moving average price is $13.97 and its 200-day moving average price is $16.43. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 14.59 and a beta of 5.35. Pagaya Technologies Ltd. has a twelve month low of $10.40 and a twelve month high of $44.99.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Weiss Ratings cut shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.50.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its stake in Pagaya Technologies by 75.2% during the fourth quarter. Millennium Management LLC now owns 1,738,760 shares of the company’s stock worth $36,340,000 after purchasing an additional 746,216 shares during the period. Goldman Sachs Group Inc. increased its stake in Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock worth $17,871,000 after purchasing an additional 359,099 shares during the period. Two Sigma Investments LP increased its stake in Pagaya Technologies by 5.2% during the third 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 period. Renaissance Technologies LLC increased its stake in Pagaya Technologies by 27.3% during the fourth 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 during the period. Finally, Nuveen LLC increased its stake in Pagaya Technologies by 3.7% during the fourth quarter. Nuveen LLC now owns 1,299,274 shares of the company’s stock worth $27,155,000 after purchasing an additional 46,536 shares during the period. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

About Pagaya Technologies

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.