Pagaya Technologies (NASDAQ:PGY) President Sells $106,624.98 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 9,702 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $10.99, for a total value of $106,624.98. Following the transaction, the president directly owned 144,034 shares of the company’s stock, valued at approximately $1,582,933.66. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Sanjiv Das also recently made the following trade(s):

• On Monday, January 5th, Sanjiv Das sold 3,945 shares of Pagaya Technologies stock. The stock was sold at an average price of $22.99, for a total value of $90,695.55.

Pagaya Technologies Price Performance

PGY stock opened at $10.76 on Thursday. The business has a 50 day moving average price of $16.06 and a 200 day moving average price of $23.94. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 1.22. The stock has a market cap of $865.10 million, a price-to-earnings ratio of 12.09 and a beta of 5.92. Pagaya Technologies Ltd. has a fifty-two week low of $8.50 and a fifty-two week high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. The company had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. Equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings raised Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Keefe, Bruyette & Woods cut their target price on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 2nd. Canaccord Genuity Group reduced their target price on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Freedom Capital raised Pagaya Technologies to a “strong-buy” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Institutional Trading of Pagaya Technologies

A number of large investors have recently bought and sold shares of PGY. AQR Capital Management LLC grew its position in Pagaya Technologies by 2,722.3% during the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock worth $3,204,000 after purchasing an additional 294,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Pagaya Technologies by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock valued at $653,000 after buying an additional 6,365 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after buying an additional 961,944 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 359,099 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Pagaya Technologies by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 515,869 shares of the company’s stock worth $10,998,000 after buying an additional 33,851 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.