Insider Selling: Pagaya Technologies (NASDAQ:PGY) CFO Sells $147,465.36 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 13,004 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $11.34, for a total value of $147,465.36. Following the transaction, the chief financial officer owned 122,174 shares in the company, valued at $1,385,453.16. This represents a 9.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Evangelos Perros also recently made the following trade(s):

• On Thursday, March 12th, Evangelos Perros sold 8,425 shares of Pagaya Technologies stock. The shares were sold at an average price of $10.99, for a total value of $92,590.75.
• On Monday, January 5th, Evangelos Perros sold 9,750 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.99, for a total value of $224,152.50.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $11.77 on Friday. Pagaya Technologies Ltd. has a 1-year low of $8.50 and a 1-year high of $44.99. The company has a market cap of $971.38 million, a price-to-earnings ratio of 13.22 and a beta of 5.74. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. The stock has a 50 day simple moving average of $13.26 and a 200-day simple moving average of $21.71.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The firm had revenue of $334.81 million for the quarter, compared to analysts’ expectations of $348.75 million. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. On average, equities research analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PGY. Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research report on Tuesday, February 3rd. Canaccord Genuity Group lowered their price objective on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Benchmark cut their price objective on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Citigroup reduced their target price on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Wall Street Zen downgraded Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc purchased a new stake in Pagaya Technologies during the 3rd quarter valued at about $25,000. Root Financial Partners LLC purchased a new position in Pagaya Technologies in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd boosted its holdings 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 during the last quarter. Transamerica Financial Advisors LLC acquired a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $30,000. Finally, Quarry LP grew its position in shares of Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after purchasing an additional 1,277 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Company Profile

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.