Evangelos Perros Sells 8,425 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 8,425 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 value of $92,590.75. Following the sale, the chief financial officer directly owned 112,412 shares of the company’s stock, valued at $1,235,407.88. This represents a 6.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Evangelos Perros also recently made the following trade(s):

• On Monday, January 5th, Evangelos Perros sold 9,750 shares of Pagaya Technologies stock. The stock was sold at an average price of $22.99, for a total value of $224,152.50.

Pagaya Technologies Price Performance

NASDAQ PGY opened at $10.99 on Wednesday. The stock’s 50-day moving average price is $16.33 and its 200-day moving average price is $24.04. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 1.22. Pagaya Technologies Ltd. has a 52 week low of $8.50 and a 52 week high of $44.99. The company has a market capitalization of $883.60 million, a P/E ratio of 12.35 and a beta of 5.92.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $334.81 million during 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%.The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. On average, equities research analysts predict that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Citigroup dropped their target price on shares of Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Canaccord Genuity Group cut their price target on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division raised its position in shares of Pagaya Technologies by 2.4% during the fourth quarter. Moody National Bank Trust Division now owns 28,978 shares of the company’s stock valued at $606,000 after buying an additional 666 shares during the last quarter. Main Management ETF Advisors LLC boosted its position in shares of Pagaya Technologies by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company’s stock worth $1,506,000 after acquiring an additional 736 shares during the last quarter. SBI Securities Co. Ltd. boosted its position 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 acquiring an additional 790 shares during the last quarter. Versant Capital Management Inc purchased a new position in Pagaya Technologies during the third quarter valued at $25,000. Finally, MetLife Investment Management LLC grew its stake in Pagaya Technologies by 3.2% during the fourth quarter. MetLife Investment Management LLC now owns 27,845 shares of the company’s stock valued at $582,000 after acquiring an additional 867 shares in the last quarter. 57.14% of the stock is 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.