Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) President Sells 12,789 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 12,789 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares of the company’s stock, valued at $989,388.95. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sanjiv Das also recently made the following trade(s):

• On Friday, January 17th, Sanjiv Das sold 7,282 shares of Pagaya Technologies stock. The stock was sold at an average price of $8.85, for a total transaction of $64,445.70.

Pagaya Technologies Trading Up 1.8 %

Shares of PGY stock opened at $9.46 on Friday. The company has a market capitalization of $711.94 million, a P/E ratio of -1.72 and a beta of 5.89. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $11.49 and its two-hundred day moving average is $10.69. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The firm had revenue of $279.39 million during the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same quarter last year, the business earned $0.24 earnings per share. Equities analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PGY. Frontier Capital Management Co. LLC acquired a new stake in Pagaya Technologies in the fourth quarter valued at about $28,070,000. Point72 Asset Management L.P. raised its stake in shares of Pagaya Technologies by 284.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $11,133,000 after buying an additional 886,539 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Pagaya Technologies by 359.6% in the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock valued at $7,675,000 after buying an additional 646,357 shares during the period. State Street Corp boosted its stake in shares of Pagaya Technologies by 14.6% in the third quarter. State Street Corp now owns 763,823 shares of the company’s stock valued at $8,074,000 after buying an additional 97,135 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock valued at $5,810,000 after buying an additional 473,063 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PGY. UBS Group started coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities raised their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.