Sanjiv Das Sells 13,309 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 13,309 shares of Pagaya Technologies stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $216,005.07. Following the transaction, the president directly owned 154,475 shares in the company, valued at approximately $2,507,129.25. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Trading Down 0.4%

PGY stock traded down $0.07 during midday trading on Tuesday, reaching $15.61. 3,644,516 shares of the company’s stock traded hands, compared to its average volume of 3,899,700. The company has a market capitalization of $1.29 billion, a P/E ratio of 14.59 and a beta of 5.35. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. Pagaya Technologies Ltd. has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. The business has a 50-day moving average price of $13.89 and a two-hundred day moving average price of $16.49.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. The business had revenue of $91.63 million for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. Equities research analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PGY shares. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 target price on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Weiss Ratings cut shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pagaya Technologies has an average rating of “Buy” and a consensus price target of $34.50.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Divisadero Street Capital Management LP increased its stake in shares of Pagaya Technologies by 79.8% in the third quarter. Divisadero Street Capital Management LP now owns 416,919 shares of the company’s stock worth $12,378,000 after buying an additional 185,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Pagaya Technologies by 3,179.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 426,089 shares of the company’s stock worth $9,493,000 after buying an additional 413,096 shares during the last quarter. Zweig DiMenna Associates LLC bought a new stake in shares of Pagaya Technologies in the third quarter worth $5,525,000. Adams Street Partners LLC bought a new stake in shares of Pagaya Technologies in the third quarter worth $10,526,000. Finally, HarbourVest Partners LLC bought a new stake in shares of Pagaya Technologies in the third quarter worth $3,343,000. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

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.