Insider Selling: Pagaya Technologies (NASDAQ:PGY) President Sells 13,301 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 13,301 shares of the firm’s stock in a transaction on Saturday, September 12th. The stock was sold at an average price of $20.21, for a total transaction of $268,813.21. Following the completion of the sale, the president directly owned 154,635 shares in the company, valued at approximately $3,125,173.35. This trade represents a 7.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, August 3rd, Sanjiv Das sold 21,289 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.00, for a total transaction of $468,358.00.
• On Thursday, June 25th, Sanjiv Das sold 14,000 shares of Pagaya Technologies stock. The shares were sold at an average price of $15.83, for a total transaction of $221,620.00.

Pagaya Technologies Trading Down 2.1%

Shares of NASDAQ:PGY traded down $0.45 during midday trading on Tuesday, hitting $21.04. 1,965,098 shares of the stock traded hands, compared to its average volume of 3,586,891. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average is $19.98 and its two-hundred day moving average is $15.83. The stock has a market capitalization of $1.76 billion, a PE ratio of 15.47 and a beta of 5.35. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in Pagaya Technologies by 141.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company’s stock valued at $12,040,000 after acquiring an additional 602,992 shares in the last quarter. Q Global Advisors LLC grew its holdings in shares of Pagaya Technologies by 324.8% during the 1st quarter. Q Global Advisors LLC now owns 537,551 shares of the company’s stock worth $6,262,000 after acquiring an additional 410,996 shares during the period. Principal Financial Group Inc. raised its position in shares of Pagaya Technologies by 211.0% in the 1st quarter. Principal Financial Group Inc. now owns 375,212 shares of the company’s stock worth $4,371,000 after acquiring an additional 254,550 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Pagaya Technologies by 353.2% in the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock valued at $4,354,000 after purchasing an additional 291,291 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of Pagaya Technologies by 614.7% in the 2nd quarter. Squarepoint Ops LLC now owns 252,036 shares of the company’s stock valued at $4,600,000 after purchasing an additional 216,770 shares during the period. 57.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PGY. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Jefferies Financial Group boosted their target price on Pagaya Technologies from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Citizens Jmp raised their price target on Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, July 31st. Finally, TD Cowen initiated coverage on Pagaya Technologies in a research note on Thursday, September 3rd. They issued a “buy” rating and a $26.00 price target for the company. Three 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.