Insider Selling: Pagaya Technologies (NASDAQ:PGY) Director Sells 7,121 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Tami Rosen sold 7,121 shares of Pagaya Technologies stock in a transaction on Saturday, September 12th. The shares were sold at an average price of $20.21, for a total transaction of $143,915.41. Following the sale, the director directly owned 23,904 shares of the company’s stock, valued at $483,099.84. This trade represents a 22.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, September 3rd, Tami Rosen sold 1,265 shares of Pagaya Technologies stock. The stock was sold at an average price of $23.07, for a total transaction of $29,183.55.
• On Monday, August 3rd, Tami Rosen sold 28,181 shares of Pagaya Technologies stock. The stock was sold at an average price of $21.98, for a total value of $619,418.38.
• On Monday, June 22nd, Tami Rosen sold 9,944 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.20, for a total value of $151,148.80.

Pagaya Technologies Stock Down 2.1%

PGY traded down $0.45 during trading on Tuesday, reaching $21.04. 1,965,098 shares of the stock traded hands, compared to its average volume of 3,586,891. The stock’s 50-day simple moving average is $19.98 and its two-hundred day simple moving average is $15.83. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. Pagaya Technologies Ltd. has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 15.47 and a beta of 5.35.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in PGY. Root Financial Partners LLC acquired a new position in shares of Pagaya Technologies during the 4th quarter valued at about $27,000. First Bancorp Inc ME acquired a new stake in Pagaya Technologies in the 2nd quarter worth approximately $36,000. Integrated Wealth Concepts LLC acquired a new stake in Pagaya Technologies in the 2nd quarter worth approximately $37,000. Allworth Financial LP boosted its position in Pagaya Technologies by 300.4% during the second quarter. Allworth Financial LP now owns 3,592 shares of the company’s stock worth $66,000 after purchasing an additional 2,695 shares during the period. Finally, State of Wyoming boosted its position in Pagaya Technologies by 150.3% during the first quarter. State of Wyoming now owns 6,532 shares of the company’s stock worth $76,000 after purchasing an additional 3,922 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PGY. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Canaccord Genuity Group increased their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 31st. B. Riley Financial raised their price objective 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. 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. Finally, Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $31.25.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence and data analytics to facilitate access to credit and investment opportunities. Its technology platform evaluates loan and other credit-related assets, helping financial institutions make lending decisions and connect assets with institutional funding sources.

The company’s Pagaya Network is designed to integrate with banks, fintech companies and other originators. Through the network, Pagaya analyzes consumer credit, personal loan, auto loan and real estate-related assets, among other products, and helps distribute qualifying assets to institutional investors through structured financial vehicles.

Pagaya was founded in 2016 and is headquartered in New York, with roots in Israel.