Insider Selling: Pagaya Technologies (NASDAQ:PGY) Director Sells $151,148.80 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 9,944 shares of Pagaya Technologies stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the completion of the sale, the director directly owned 37,544 shares in the company, valued at $570,668.80. This represents a 20.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 12th, Tami Rosen sold 5,681 shares of Pagaya Technologies stock. The stock was sold at an average price of $16.23, for a total transaction of $92,202.63.
• On Friday, April 17th, Tami Rosen sold 9,720 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.14, for a total transaction of $147,160.80.

Pagaya Technologies Stock Up 1.8%

Shares of NASDAQ PGY opened at $15.48 on Friday. The company’s 50-day simple moving average is $14.39 and its 200-day simple moving average is $15.99. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 14.47 and a beta of 5.35. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Canaccord Genuity Group reiterated a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a research report on Monday, May 18th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Pagaya Technologies presently has a consensus rating of “Buy” and a consensus target price of $34.50.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors have recently added to or reduced their stakes in PGY. Divisadero Street Capital Management LP raised its stake in Pagaya Technologies by 79.8% during the third quarter. Divisadero Street Capital Management LP now owns 416,919 shares of the company’s stock worth $12,378,000 after purchasing an additional 185,000 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Pagaya Technologies by 3,179.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 426,089 shares of the company’s stock valued at $9,493,000 after buying an additional 413,096 shares during the period. Adams Street Partners LLC acquired a new stake in shares of Pagaya Technologies during the 3rd quarter worth approximately $10,526,000. HarbourVest Partners LLC purchased a new stake in shares of Pagaya Technologies during the 3rd quarter valued at approximately $3,343,000. Finally, Temasek Holdings Private Ltd purchased a new stake in shares of Pagaya Technologies during the 3rd quarter valued at approximately $4,277,000. 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.