Insider Selling: Pagaya Technologies (NASDAQ:PGY) Insider Sells 5,905 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Tami Rosen sold 5,905 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $10.99, for a total transaction of $64,895.95. Following the completion of the transaction, the insider owned 47,264 shares in the company, valued at approximately $519,431.36. This trade represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, December 19th, Tami Rosen sold 7,561 shares of Pagaya Technologies stock. The stock was sold at an average price of $30.73, for a total transaction of $232,349.53.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY traded up $0.03 during mid-day trading on Monday, hitting $10.99. 2,157,170 shares of the stock were exchanged, compared to its average volume of 4,212,435. Pagaya Technologies Ltd. has a twelve month low of $8.50 and a twelve month high of $44.99. The stock’s fifty day simple moving average is $16.84 and its two-hundred day simple moving average is $24.41. The company has a debt-to-equity ratio of 1.22, a quick ratio of 10.55 and a current ratio of 10.55. The company has a market cap of $883.55 million, a P/E ratio of 12.35 and a beta of 5.92.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Monday, February 9th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. The business had revenue of $334.81 million for the quarter, compared to the consensus estimate of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.Pagaya Technologies’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. As a group, analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PGY has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price objective on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Freedom Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Tuesday, February 3rd. Benchmark reduced their price target on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PGY. Versant Capital Management Inc acquired a new stake in shares of Pagaya Technologies in the 3rd quarter valued at $25,000. Root Financial Partners LLC bought a new stake in shares of Pagaya Technologies during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Pagaya Technologies by 351.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after acquiring an additional 1,084 shares during the period. Transamerica Financial Advisors LLC bought a new position in Pagaya Technologies in the fourth quarter valued at about $30,000. Finally, Quarry LP boosted its holdings in Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after acquiring an additional 1,277 shares during the last quarter. 57.14% of the stock is currently owned by 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.