Pagaya Technologies (NASDAQ:PGY) Director Sells $92,202.63 in Stock

by · The Markets Daily

Pagaya Technologies Ltd. (NASDAQ:PGY – Get Free Report) Director Tami Rosen sold 5,681 shares of Pagaya Technologies stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $92,202.63. Following the completion of the transaction, the director directly owned 47,488 shares in the company, valued at approximately $770,730.24. The trade was a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tami Rosen also recently made the following trade(s):

  • On Friday, April 17th, Tami Rosen sold 9,720 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.14, for a total value of $147,160.80.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $15.62 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 14.60 and a beta of 5.35. The stock has a fifty day moving average of $14.09 and a 200 day moving average of $16.30. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25.

Pagaya Technologies (NASDAQ:PGY – Get Free Report) last posted its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. The firm 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%. As a group, research analysts expect that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Pagaya Technologies by 2,722.3% during the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock valued at $3,204,000 after buying an additional 294,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after buying an additional 6,365 shares in the last quarter. Millennium Management LLC raised its holdings in Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after acquiring an additional 961,944 shares during the period. Goldman Sachs Group Inc. raised its holdings in Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after acquiring an additional 359,099 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Pagaya Technologies by 19.0% in the second quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock valued at $744,000 after acquiring an additional 5,580 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PGY. 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 shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings cut shares of Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $34.50.

Get Our Latest Stock Analysis on PGY

About Pagaya Technologies

(Get Free Report)

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.

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