Sanjiv Das Sells 10,683 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 10,683 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $11.77, for a total value of $125,738.91. Following the transaction, the president now directly owns 64,794 shares of the company’s stock, valued at approximately $762,625.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pagaya Technologies Trading Up 2.4 %

Shares of NASDAQ:PGY opened at $11.62 on Friday. The stock’s 50-day simple moving average is $11.99 and its two-hundred day simple moving average is $12.08. The stock has a market capitalization of $823.86 million, a price-to-earnings ratio of -8.24 and a beta of 6.36. Pagaya Technologies Ltd. has a 52-week low of $8.56 and a 52-week high of $20.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.50 and a current ratio of 1.50.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%. The business had revenue of $250.34 million for the quarter, compared to the consensus estimate of $239.16 million. Analysts expect that Pagaya Technologies Ltd. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Pagaya Technologies in the second quarter worth $74,000. SG Americas Securities LLC purchased a new stake in Pagaya Technologies in the 2nd quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Pagaya Technologies during the second quarter valued at about $166,000. Cubist Systematic Strategies LLC lifted its position in shares of Pagaya Technologies by 50.1% in the second quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company’s stock valued at $559,000 after acquiring an additional 14,629 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Pagaya Technologies in the second quarter worth about $187,000. 57.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PGY. JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday. Canaccord Genuity Group decreased their price objective on shares of Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating for the company in a report on Monday, September 30th. Oppenheimer started coverage on Pagaya Technologies in a research note on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Pagaya Technologies in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.89.

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.