Pagaya Technologies (NASDAQ:PGY) CFO Evangelos Perros Sells 9,750 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 9,750 shares of Pagaya Technologies stock in a transaction on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $224,152.50. Following the completion of the sale, the chief financial officer directly owned 100,212 shares of the company’s stock, valued at $2,303,873.88. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Pagaya Technologies Trading Up 8.9%

Pagaya Technologies stock traded up $1.98 during mid-day trading on Monday, hitting $24.26. The stock had a trading volume of 3,287,554 shares, compared to its average volume of 2,492,303. The stock has a 50-day simple moving average of $23.80 and a two-hundred day simple moving average of $28.23. The stock has a market capitalization of $1.95 billion, a PE ratio of -9.09 and a beta of 5.86. Pagaya Technologies Ltd. has a 12 month low of $8.27 and a 12 month high of $44.99. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB bought a new position in shares of Pagaya Technologies during the 2nd quarter valued at about $25,000. Versant Capital Management Inc acquired a new stake in Pagaya Technologies during the 3rd quarter worth approximately $25,000. LSV Asset Management acquired a new stake in Pagaya Technologies during the 3rd quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd lifted its stake in Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock valued at $42,000 after buying an additional 520 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Pagaya Technologies in the third quarter valued at approximately $84,000. 57.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on PGY shares. Benchmark restated a “buy” rating and issued a $48.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 1st. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Canaccord Genuity Group increased their price target on Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Finally, Wall Street Zen downgraded Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.

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.