Key Points
- Pagaya CFO Evangelos Perros sold 13,004 shares on April 1 at an average price of $11.34 for $147,465, cutting his stake by 9.62% to 122,174 shares; he also sold shares on March 12 and Jan 5, signaling continued insider selling.
- Pagaya beat EPS estimates with $0.80 but missed revenue expectations ($334.8M vs. $348.8M), shows strong ROE (44.24%), and faces lowered analyst price targets although the consensus remains a Moderate Buy with a $33.11 target.
Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) CFO Evangelos Perros sold 13,004 shares of Pagaya Technologies stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $11.34, for a total value of $147,465.36. Following the completion of the sale, the chief financial officer owned 122,174 shares in the company, valued at approximately $1,385,453.16. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Evangelos Perros also recently made the following trade(s):
- On Thursday, March 12th, Evangelos Perros sold 8,425 shares of Pagaya Technologies stock. The stock was sold at an average price of $10.99, for a total value of $92,590.75.
- On Monday, January 5th, Evangelos Perros sold 9,750 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.99, for a total value of $224,152.50.
Pagaya Technologies Stock Performance
NASDAQ PGY opened at $11.77 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. The stock's 50 day simple moving average is $13.46 and its 200-day simple moving average is $22.06. The company has a market cap of $971.38 million, a PE ratio of 13.22 and a beta of 5.74. Pagaya Technologies Ltd. has a 1-year low of $8.50 and a 1-year high of $44.99.
Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The firm had revenue of $334.81 million during the quarter, compared to analysts' expectations of $348.75 million. During the same period in the previous year, the business earned $0.17 earnings per share. The firm's revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on PGY shares. Keefe, Bruyette & Woods reduced their target price on shares of Pagaya Technologies from $38.00 to $35.00 and set an "outperform" rating for the company in a research report on Friday, January 2nd. Citigroup lowered their price target on shares of Pagaya Technologies from $40.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Jefferies Financial Group dropped their price objective on shares of Pagaya Technologies from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. Canaccord Genuity Group decreased their target price on shares of Pagaya Technologies from $39.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. Finally, Zacks Research cut Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.11.
Read Our Latest Research Report on PGY
Institutional Trading of Pagaya Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of PGY. Moody National Bank Trust Division raised its holdings in shares of Pagaya Technologies by 2.4% during the 4th quarter. Moody National Bank Trust Division now owns 28,978 shares of the company's stock worth $606,000 after acquiring an additional 666 shares during the period. Main Management ETF Advisors LLC increased its position in Pagaya Technologies by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company's stock worth $1,506,000 after purchasing an additional 736 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Pagaya Technologies by 5.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company's stock worth $345,000 after purchasing an additional 790 shares during the last quarter. Versant Capital Management Inc purchased a new position in Pagaya Technologies during the third quarter worth about $25,000. Finally, MetLife Investment Management LLC boosted its holdings in Pagaya Technologies by 3.2% in the 4th quarter. MetLife Investment Management LLC now owns 27,845 shares of the company's stock valued at $582,000 after purchasing an additional 867 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.
Pagaya Technologies Company Profile
(
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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