Pagaya Technologies (NASDAQ:PGY) President Sells $468,358.00 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 21,289 shares of Pagaya Technologies stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $22.00, for a total transaction of $468,358.00. Following the completion of the sale, the president owned 144,186 shares of the company’s stock, valued at $3,172,092. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sanjiv Das also recently made the following trade(s):

• On Thursday, June 25th, Sanjiv Das sold 14,000 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.83, for a total transaction of $221,620.00.
• On Friday, June 12th, Sanjiv Das sold 13,309 shares of Pagaya Technologies stock. The shares were sold at an average price of $16.23, for a total transaction of $216,005.07.

Pagaya Technologies Stock Down 1.7%

Pagaya Technologies stock opened at $21.42 on Friday. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 1.12. Pagaya Technologies Ltd. has a 1-year low of $10.40 and a 1-year high of $44.99. The firm’s fifty day simple moving average is $16.91 and its 200-day simple moving average is $14.92. The company has a market capitalization of $1.78 billion, a P/E ratio of 15.75 and a beta of 5.33.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.53. The firm had revenue of $317.94 million during the quarter, compared to analysts’ expectations of $323.85 million. Pagaya Technologies had a net margin of 9.12% and a return on equity of 51.56%. Pagaya Technologies’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. Sell-side analysts forecast that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC increased its position in Pagaya Technologies by 81.0% in the 1st quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company’s stock worth $1,380,000 after buying an additional 53,011 shares during the period. Edgestream Partners L.P. boosted its position in shares of Pagaya Technologies by 353.2% in the first quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock valued at $4,354,000 after acquiring an additional 291,291 shares during the period. Royal Bank of Canada boosted its position in shares of Pagaya Technologies by 134.6% in the first quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock valued at $419,000 after acquiring an additional 20,623 shares during the period. Empowered Funds LLC grew its stake in shares of Pagaya Technologies by 4,562.7% in the first quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock worth $1,359,000 after acquiring an additional 114,159 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Pagaya Technologies by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock worth $176,000 after acquiring an additional 776 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PGY. Zacks Research downgraded Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Citizens Jmp upped their target price on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, July 31st. B. Riley Financial increased their price target on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Canaccord Genuity Group lifted their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $32.43.

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.