Key Points
- Pagaya President Sanjiv Das sold 14,300 shares at an average price of $17.04, generating $243,672. The sale reduced his holdings by 7.6% and was made to cover tax withholding tied to vested equity awards.
- Pagaya shares opened at $17.37, with a $1.45 billion market capitalization and a 52-week range of $10.40 to $33.12. The stock’s 50-day moving average was $20.39, compared with a 200-day average of $16.44.
- Institutional investors own 57.14% of the company, while analysts maintain a consensus “Buy” rating with an average price target of $31.25.
Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) CAO Cory Vieira sold 2,170 shares of the firm's stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $17.04, for a total value of $36,976.80. Following the completion of the transaction, the chief accounting officer directly owned 25,160 shares in the company, valued at $428,726.40. The trade was a 7.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Pagaya Technologies Stock Up 2.2%
Shares of Pagaya Technologies stock opened at $17.37 on Wednesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 12.77 and a beta of 5.35. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average price of $20.39 and a two-hundred day moving average price of $16.44. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month high of $33.12.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PGY. Texas Capital upgraded shares of Pagaya Technologies to a "strong-buy" rating in a report on Wednesday, June 10th. Jefferies Financial Group lifted their price objective on Pagaya Technologies from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. B. Riley Financial boosted their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings restated a "hold (c-)" rating on shares of Pagaya Technologies in a research note on Monday, September 14th. Finally, Citizens Jmp increased their target price on Pagaya Technologies from $22.00 to $25.00 and gave the company a "market outperform" rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $31.25.
View Our Latest Report on PGY
Institutional Investors Weigh In On Pagaya Technologies
Large investors have recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in Pagaya Technologies during the fourth quarter worth about $27,000. First Bancorp Inc ME acquired a new stake in shares of Pagaya Technologies during the second quarter worth approximately $36,000. Integrated Wealth Concepts LLC bought a new position in shares of Pagaya Technologies in the second quarter valued at approximately $37,000. Allworth Financial LP raised its stake in shares of Pagaya Technologies by 300.4% in the second quarter. Allworth Financial LP now owns 3,592 shares of the company's stock valued at $66,000 after acquiring an additional 2,695 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Pagaya Technologies by 150.3% in the 1st quarter. State of Wyoming now owns 6,532 shares of the company's stock worth $76,000 after acquiring an additional 3,922 shares in the last quarter. Institutional investors own 57.14% of the company's stock.
Pagaya Technologies Company Profile
(
Get Free Report)
Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence and data analytics to facilitate access to credit and investment opportunities. Its technology platform evaluates loan and other credit-related assets, helping financial institutions make lending decisions and connect assets with institutional funding sources.
The company's Pagaya Network is designed to integrate with banks, fintech companies and other originators. Through the network, Pagaya analyzes consumer credit, personal loan, auto loan and real estate-related assets, among other products, and helps distribute qualifying assets to institutional investors through structured financial vehicles.
Pagaya was founded in 2016 and is headquartered in New York, with roots in Israel.
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