Insider Selling: Pagaya Technologies (NASDAQ:PGY) Director Sells 1,265 Shares

Key Points

• Pagaya Technologies director Tami Rosen sold 1,265 shares at an average price of $23.07, generating $29,183.55. Her remaining stake fell 7.59% to 15,400 shares, following several other sales earlier in the year.
• PGY shares traded at $22.89, with a $1.91 billion market capitalization and a 52-week range of $10.40 to $44.99. Institutional investors own 57.14% of the company.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $31.25; Jefferies and Canaccord recently raised their targets.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) Director Tami Rosen sold 1,265 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $23.07, for a total value of $29,183.55. Following the completion of the transaction, the director owned 15,400 shares of the company's stock, valued at approximately $355,278. This represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tami Rosen also recently made the following trade(s):

• On Monday, August 3rd, Tami Rosen sold 28,181 shares of Pagaya Technologies stock. The stock was sold at an average price of $21.98, for a total transaction of $619,418.38.
• On Monday, June 22nd, Tami Rosen sold 9,944 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.20, for a total transaction of $151,148.80.
• On Friday, June 12th, Tami Rosen sold 5,681 shares of Pagaya Technologies stock. The shares were sold at an average price of $16.23, for a total transaction of $92,202.63.

Pagaya Technologies Stock Performance

Shares of PGY traded up $0.89 during midday trading on Thursday, reaching $22.89. The stock had a trading volume of 2,109,842 shares, compared to its average volume of 3,647,604. The firm has a market cap of $1.91 billion, a PE ratio of 16.83 and a beta of 5.35. The firm has a 50 day simple moving average of $19.28 and a 200-day simple moving average of $15.28. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. The company has a current ratio of 11.08, a quick ratio of 11.08 and a debt-to-equity ratio of 1.12.

Institutional Investors Weigh In On Pagaya Technologies

Institutional investors have recently modified their holdings of the business. Main Management ETF Advisors LLC increased its position in Pagaya Technologies by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company's stock worth $1,506,000 after acquiring an additional 736 shares during the period. The Manufacturers Life Insurance Company raised its stake in Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company's stock worth $176,000 after purchasing an additional 776 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Pagaya Technologies by 5.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company's stock valued at $345,000 after purchasing an additional 790 shares during the period. MetLife Investment Management LLC boosted its holdings in Pagaya Technologies by 3.2% in the 4th quarter. MetLife Investment Management LLC now owns 27,845 shares of the company's stock valued at $582,000 after purchasing an additional 867 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Pagaya Technologies by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 22,766 shares of the company's stock worth $676,000 after purchasing an additional 1,043 shares in the last quarter. Institutional investors own 57.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PGY. Jefferies Financial Group boosted their target price on Pagaya Technologies from $23.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Zacks Research raised shares of Pagaya Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Texas Capital raised shares of Pagaya Technologies to a "strong-buy" rating in a research report on Wednesday, June 10th. Weiss Ratings upgraded shares of Pagaya Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 18th. Finally, Canaccord Genuity Group lifted their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies currently has a consensus rating of "Buy" and an average target price of $31.25.

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.

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