Insider Selling: Pagaya Technologies (NASDAQ:PGY) CAO Sells 1,458 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 1,458 shares of Pagaya Technologies stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $15.83, for a total value of $23,080.14. Following the completion of the sale, the chief accounting officer directly owned 20,959 shares in the company, valued at $331,780.97. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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.

Cory Vieira also recently made the following trade(s):

• On Tuesday, June 2nd, Cory Vieira sold 2,140 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.01, for a total value of $32,121.40.

Pagaya Technologies Price Performance

Pagaya Technologies stock traded up $0.76 during midday trading on Monday, reaching $16.63. 3,197,507 shares of the stock traded hands, compared to its average volume of 3,927,513. The stock has a market cap of $1.38 billion, a P/E ratio of 15.54 and a beta of 5.35. The stock’s fifty day moving average is $14.43 and its 200-day moving average is $15.93. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies Ltd. has a 12 month low of $10.40 and a 12 month high of $44.99.

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. The business had revenue of $91.63 million for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. As a group, equities research analysts anticipate that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Pagaya Technologies by 2,722.3% during the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock valued at $3,204,000 after acquiring an additional 294,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after purchasing an additional 6,365 shares in the last quarter. Millennium Management LLC grew its position in 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. Goldman Sachs Group Inc. grew its position in Pagaya Technologies by 26.7% during the 1st 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 last quarter. Finally, Legal & General Group Plc increased its stake in Pagaya Technologies by 19.0% during the 2nd quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock valued at $744,000 after purchasing an additional 5,580 shares in the last quarter. Institutional investors own 57.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Canaccord Genuity Group reiterated a “buy” rating and set 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 note on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $34.50.

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.