Gal Krubiner Purchases 16,230 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CEO Gal Krubiner purchased 16,230 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, June 24th. The shares were bought at an average price of $15.43 per share, with a total value of $250,428.90. Following the transaction, the chief executive officer owned 555,906 shares of the company’s stock, valued at $8,577,629.58. This trade represents a 3.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Pagaya Technologies Stock Up 2.5%

PGY stock opened at $15.87 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 14.83 and a beta of 5.35. 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 fifty day moving average of $14.43 and a 200-day moving average of $15.99.

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 company had revenue of $91.63 million during the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. As a group, equities research analysts predict that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PGY shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a report on Monday, May 18th. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Finally, Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $34.50.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC lifted its holdings in Pagaya Technologies by 81.0% in the first quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company’s stock worth $1,380,000 after buying an additional 53,011 shares during the period. Edgestream Partners L.P. grew its holdings in shares of Pagaya Technologies by 353.2% during the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock worth $4,354,000 after acquiring an additional 291,291 shares during the period. Royal Bank of Canada grew its holdings in shares of Pagaya Technologies by 134.6% during the 1st quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock worth $419,000 after acquiring an additional 20,623 shares during the period. Empowered Funds LLC raised its position in shares of Pagaya Technologies by 4,562.7% in the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock worth $1,359,000 after acquiring an additional 114,159 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock worth $176,000 after acquiring an additional 776 shares in the last quarter. 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.