Tami Rosen Sells 28,181 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 28,181 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $21.98, for a total transaction of $619,418.38. Following the completion of the transaction, the director owned 16,665 shares of the company’s stock, valued at approximately $366,296.70. This trade represents a 62.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Tami Rosen also recently made the following trade(s):

• On Monday, June 22nd, Tami Rosen sold 9,944 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.20, for a total value of $151,148.80.
• On Friday, June 12th, Tami Rosen sold 5,681 shares of Pagaya Technologies stock. The shares were sold at an average price of $16.23, for a total value of $92,202.63.

Pagaya Technologies Trading Down 0.5%

NASDAQ:PGY opened at $21.80 on Thursday. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month high of $44.99. The firm has a market cap of $1.81 billion, a PE ratio of 16.03 and a beta of 5.33. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $16.76 and a 200 day moving average price of $14.92.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.53. The company had revenue of $317.94 million for the quarter, compared to the consensus estimate of $323.85 million. Pagaya Technologies had a return on equity of 51.56% and a net margin of 9.12%.Pagaya Technologies’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. Sell-side analysts anticipate that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PGY. Main Management ETF Advisors LLC lifted its position in Pagaya Technologies by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company’s stock valued at $1,506,000 after acquiring an additional 736 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Pagaya Technologies by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock worth $176,000 after purchasing an additional 776 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Pagaya Technologies by 5.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company’s stock worth $345,000 after purchasing an additional 790 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Pagaya Technologies by 3.2% during the fourth quarter. MetLife Investment Management LLC now owns 27,845 shares of the company’s stock worth $582,000 after purchasing an additional 867 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Pagaya Technologies by 4.8% during the third quarter. Franklin Resources Inc. now owns 22,766 shares of the company’s stock worth $676,000 after purchasing an additional 1,043 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Wall Street Analyst Weigh In

PGY has been the topic of a number of recent research reports. B. Riley Financial upped their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Canaccord Genuity Group lifted their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Pagaya Technologies currently has an average rating of “Buy” and an average price target of $32.43.

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.