Key Points
- Pagaya Technologies insider Evangelos Perros sold 11,558 shares on June 12 at an average price of $16.23, totaling about $187,586. The sale reduced his ownership by 8.09% and was filed with the SEC; it was made to cover tax withholding tied to vested equity awards.
- The stock was trading lower and remains volatile. PGY opened at $15.61 and was down 0.4% in the session, with a beta of 5.35, a market cap of $1.29 billion, and a wide 52-week range of $10.40 to $44.99.
- Analyst sentiment is broadly positive. Recent upgrades from Zacks Research and Texas Capital helped support a consensus “Buy” rating, with MarketBeat reporting 3 Strong Buy ratings, 8 Buy ratings, and a consensus price target of $34.50.
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 shares were sold at an average price of $16.23, for a total transaction of $92,202.63. Following the completion of the sale, the director directly owned 47,488 shares of the company's stock, valued at approximately $770,730.24. The trade was a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 shares were sold at an average price of $15.14, for a total transaction of $147,160.80.
Pagaya Technologies Stock Down 0.4%
PGY stock opened at $15.61 on Wednesday. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $13.97 and a 200 day simple moving average of $16.43. The firm has a market cap of $1.29 billion, a PE ratio of 14.59 and a beta of 5.35. Pagaya Technologies Ltd. has a 1 year low of $10.40 and a 1 year high of $44.99.
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 (EPS) for the quarter. The firm had revenue of $91.63 million for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. Sell-side analysts anticipate that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms recently commented on PGY. Zacks Research upgraded shares of Pagaya Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 29th. Weiss Ratings cut shares of Pagaya Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Texas Capital upgraded shares of Pagaya Technologies to a "strong-buy" rating in a research note on Wednesday, June 10th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $32.00 target price on shares of Pagaya Technologies in a research note on Monday, May 18th. Three equities 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. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $34.50.
Check Out Our Latest Stock Analysis on PGY
Hedge Funds Weigh In On Pagaya Technologies
Hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd increased its position in shares of Pagaya Technologies by 351.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company's stock worth $29,000 after purchasing an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $30,000. Quarry LP increased its position in shares of Pagaya Technologies by 330.8% during the 4th quarter. Quarry LP now owns 1,663 shares of the company's stock worth $35,000 after purchasing an additional 1,277 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in shares of Pagaya Technologies during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 57.14% of the company's stock.
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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