Pagaya Technologies (NASDAQ:PGY) Insider Evangelos Perros Sells 11,558 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Evangelos Perros sold 11,558 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the completion of the transaction, the insider owned 131,241 shares of the company’s stock, valued at $2,130,041.43. This trade represents a 8.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Evangelos Perros also recently made the following trade(s):

• On Wednesday, April 1st, Evangelos Perros sold 13,004 shares of Pagaya Technologies stock. The shares were sold at an average price of $11.34, for a total value of $147,465.36.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $15.61 on Wednesday. The stock has a 50-day simple moving average of $13.97 and a two-hundred day simple moving average of $16.43. The firm has a market capitalization of $1.29 billion, a P/E ratio of 14.59 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 company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. The company 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%. On average, equities analysts forecast that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently modified their holdings of PGY. Segall Bryant & Hamill LLC boosted its holdings in Pagaya Technologies by 81.0% in the 1st 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 last quarter. Edgestream Partners L.P. boosted its holdings in Pagaya Technologies by 353.2% in the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock worth $4,354,000 after buying an additional 291,291 shares during the last quarter. Royal Bank of Canada boosted its holdings in Pagaya Technologies by 134.6% in the 1st quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock worth $419,000 after buying an additional 20,623 shares during the last quarter. Empowered Funds LLC boosted its holdings in 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 buying an additional 114,159 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in 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 buying an additional 776 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.