Key Points
- Tami Rosen, a Pagaya Technologies director, sold 9,720 shares on April 17 at an average price of $15.14 for total proceeds of $147,160.80, reducing her stake by 20.57% to 37,544 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- Pagaya is a $1.24 billion market-cap fintech with a PE of 16.93 and a volatile stock (52-week range $8.95–$44.99, 50-day SMA $11.98 vs. 200-day SMA $19.83), and it recently reported an EPS miss of $0.64 vs. $0.69 consensus.
- Despite insider selling, several institutions (AQR, Millennium, Goldman Sachs) materially increased positions and analysts maintain a MarketBeat consensus of a Moderate Buy with an average target of $33.11.
Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) Director Tami Rosen sold 9,720 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.14, for a total value of $147,160.80. Following the completion of the transaction, the director owned 37,544 shares in the company, valued at approximately $568,416.16. The trade was a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Tami Rosen also recently made the following trade(s):
- On Thursday, March 12th, Tami Rosen sold 5,905 shares of Pagaya Technologies stock. The shares were sold at an average price of $10.99, for a total transaction of $64,895.95.
Pagaya Technologies Price Performance
NASDAQ PGY opened at $15.07 on Tuesday. The company has a market cap of $1.24 billion, a PE ratio of 16.93 and a beta of 5.74. Pagaya Technologies Ltd. has a 52 week low of $8.95 and a 52 week high of $44.99. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 1.22. The firm's 50-day simple moving average is $11.98 and its two-hundred day simple moving average is $19.83.
Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $326.40 million for the quarter, compared to analysts' expectations of $323.83 million. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. During the same period last year, the company earned $0.10 earnings per share. Research analysts predict that Pagaya Technologies Ltd. will post 2.24 earnings per share for the current year.
Institutional Investors Weigh In On Pagaya Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in PGY. AQR Capital Management LLC raised its position in shares of Pagaya Technologies by 2,722.3% in the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company's stock worth $3,204,000 after buying an additional 294,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Pagaya Technologies by 11.4% in the first 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 position in shares of Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock worth $13,230,000 after buying an additional 961,944 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Pagaya Technologies by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company's stock worth $17,871,000 after buying an additional 359,099 shares in the last quarter. Finally, Legal & General Group Plc raised 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 worth $744,000 after buying an additional 5,580 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Pagaya Technologies from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, March 4th. Zacks Research downgraded Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. Jefferies Financial Group dropped their target price on Pagaya Technologies from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Citigroup dropped their target price on Pagaya Technologies from $40.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Finally, Keefe, Bruyette & Woods dropped their target price on Pagaya Technologies from $38.00 to $35.00 and set an "outperform" rating on the stock in a research report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Pagaya Technologies has a consensus rating of "Moderate Buy" and an average target price of $33.11.
View Our Latest Report 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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