Sanjiv Das Sells 13,309 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 13,309 shares of Pagaya Technologies stock in a transaction on Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $216,005.07. Following the completion of the sale, the president owned 154,475 shares in the company, valued at approximately $2,507,129.25. This represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $15.03 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The company has a market cap of $1.25 billion, a P/E ratio of 14.05 and a beta of 5.35. The firm’s fifty day moving average is $14.02 and its two-hundred day moving average is $16.37. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The company had revenue of $91.63 million during the quarter. As a group, analysts anticipate that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Canaccord Genuity Group restated a “buy” rating and issued a $32.00 target price on shares of Pagaya Technologies in a report on Monday, May 18th. Finally, Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $34.50.

Hedge Funds Weigh In On Pagaya Technologies

A number of large investors have recently made changes to their positions in PGY. Root Financial Partners LLC purchased a new position in shares of Pagaya Technologies during the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Pagaya Technologies by 351.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,084 shares during the period. Transamerica Financial Advisors LLC purchased a new stake in Pagaya Technologies in the 4th quarter valued at about $30,000. Quarry LP boosted its position in Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after buying an additional 1,277 shares during the period. Finally, LSV Asset Management purchased a new stake in Pagaya Technologies in the 3rd quarter valued at about $36,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Company Profile

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.