Pagaya Technologies (NASDAQ:PGY) CFO Evangelos Perros Sells 13,004 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 13,004 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $11.34, for a total value of $147,465.36. Following the sale, the chief financial officer directly owned 122,174 shares in the company, valued at $1,385,453.16. This represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, March 12th, Evangelos Perros sold 8,425 shares of Pagaya Technologies stock. The shares were sold at an average price of $10.99, for a total value of $92,590.75.
• On Monday, January 5th, Evangelos Perros sold 9,750 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.99, for a total value of $224,152.50.

Pagaya Technologies Stock Up 0.6%

Pagaya Technologies stock opened at $11.77 on Friday. The firm has a market cap of $971.38 million, a price-to-earnings ratio of 13.22 and a beta of 5.74. Pagaya Technologies Ltd. has a 52 week low of $8.50 and a 52 week high of $44.99. The business’s 50-day moving average price is $13.46 and its 200 day moving average price is $22.06. 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 (NASDAQ:PGY) last announced its quarterly earnings results 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. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company had revenue of $334.81 million during the quarter, compared to the consensus estimate of $348.75 million. During the same period in the previous year, the company posted $0.17 earnings per share. Pagaya Technologies’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

PGY has been the subject of several analyst reports. Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Freedom Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a report on Tuesday, February 3rd. Benchmark decreased their price objective on shares of Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. 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. Finally, Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. One 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 company. According to data from MarketBeat, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc purchased a new stake in Pagaya Technologies in the 3rd quarter worth $25,000. Root Financial Partners LLC purchased a new position in Pagaya Technologies during the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd lifted its holdings in 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 purchasing an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $30,000. Finally, Quarry LP grew its position in shares of 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 purchasing an additional 1,277 shares during the period. Hedge funds and other institutional investors 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.