Avital Pardo Sells 237,748 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Avital Pardo sold 237,748 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,604,259.68. Following the sale, the chief technology officer now owns 2,401,528 shares in the company, valued at approximately $36,407,164.48. This trade represents a 9.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $15.06 on Thursday. The business’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $10.81. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $19.20. The stock has a market capitalization of $1.13 billion, a PE ratio of -2.74 and a beta of 5.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. During the same period last year, the firm posted $0.24 earnings per share. As a group, research analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors have recently added to or reduced their stakes in PGY. Frontier Capital Management Co. LLC acquired a new position in Pagaya Technologies in the fourth quarter valued at approximately $28,070,000. Point72 Asset Management L.P. lifted its stake in Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock valued at $11,133,000 after buying an additional 886,539 shares during the period. Two Sigma Investments LP lifted its stake in Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock valued at $7,675,000 after buying an additional 646,357 shares during the period. Nuveen LLC acquired a new position in Pagaya Technologies in the first quarter valued at approximately $6,465,000. Finally, JPMorgan Chase & Co. lifted its stake in Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock valued at $5,810,000 after buying an additional 473,063 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PGY shares. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. B. Riley restated a “buy” rating and set a $36.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. JMP Securities upped their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $14.50 in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.61.

About Pagaya Technologies

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.