Pagaya Technologies (NASDAQ:PGY) President Sells $268,813.21 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 13,301 shares of the company’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 transaction, the president owned 154,635 shares of the company’s stock, valued at $3,125,173.35. This trade represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 stock was 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 value of $221,620.00.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $20.56 on Friday. The company’s fifty day moving average price is $20.18 and its 200-day moving average price is $16.02. The stock has a market cap of $1.72 billion, a PE ratio of 15.12 and a beta of 5.35. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 1.12. Pagaya Technologies Ltd. has a 12 month low of $10.40 and a 12 month high of $44.99.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PGY shares. Canaccord Genuity Group lifted their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pagaya Technologies in a research note on Monday. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Citizens Jmp increased their target price 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, Jefferies Financial Group increased their target price on Pagaya Technologies from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Three 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 data from MarketBeat, Pagaya Technologies currently has a consensus rating of “Buy” and a consensus target price of $31.25.

Institutional Trading of Pagaya Technologies

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of 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 during the period. Q Global Advisors LLC raised its stake in 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. Edgestream Partners L.P. raised its stake in 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. Principal Financial Group Inc. lifted its holdings in Pagaya Technologies by 211.0% during the first quarter. Principal Financial Group Inc. now owns 375,212 shares of the company’s stock valued at $4,371,000 after purchasing an additional 254,550 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Pagaya Technologies by 614.7% during the second 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 in the last quarter. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

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.