Key Points
- Pagaya Technologies CEO Gal Krubiner bought 16,230 shares for about $250,428.90 at an average price of $15.43, increasing his ownership by 3.01% to 555,906 shares.
- The stock was up 1.8% and traded around $15.48, with a market cap of about $1.28 billion; its 52-week range is $10.40 to $44.99.
- Wall Street sentiment remains constructive, with a consensus Buy rating and an average price target of $34.50, while hedge funds continue to build positions in the company.
Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) CEO Gal Krubiner acquired 16,230 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were bought at an average price of $15.43 per share, for a total transaction of $250,428.90. Following the transaction, the chief executive officer owned 555,906 shares of the company's stock, valued at $8,577,629.58. This trade represents a 3.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Pagaya Technologies Trading Up 1.8%
Shares of PGY stock opened at $15.48 on Friday. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month high of $44.99. The stock has a market capitalization of $1.28 billion, a P/E ratio of 14.47 and a beta of 5.35. The firm's 50 day moving average is $14.39 and its 200 day moving average is $15.99.
Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its earnings results 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%. Research analysts expect that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.
Hedge Funds Weigh In On Pagaya Technologies
Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company's stock worth $25,591,000 after buying an additional 1,110,208 shares in the last quarter. Millennium Management LLC lifted its position in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock valued at $13,230,000 after buying an additional 961,944 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Pagaya Technologies by 221.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company's stock valued at $28,833,000 after acquiring an additional 950,443 shares during the period. Marshall Wace LLP increased its holdings in Pagaya Technologies by 1,556.3% in the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company's stock worth $19,952,000 after acquiring an additional 631,435 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Pagaya Technologies by 141.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,029,081 shares of the company's stock worth $12,040,000 after acquiring an additional 602,992 shares during the period. 57.14% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on PGY shares. Zacks Research raised Pagaya Technologies from a "hold" rating to a "strong-buy" rating in a research 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. Canaccord Genuity Group reissued a "buy" rating and issued a $32.00 price objective on shares of Pagaya Technologies in a report on Monday, May 18th. Finally, Weiss Ratings upgraded shares of Pagaya Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of "Buy" and a consensus price target of $34.50.
Check Out Our Latest Report on Pagaya Technologies
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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