Pagaya Technologies (NASDAQ:PGY) CAO Cory Vieira Sells 2,170 Shares of Company Stock

Key Points

• Pagaya CAO Cory Vieira sold 2,170 shares at an average price of $17.04, generating $36,976.80. The sale reduced Vieira’s direct holdings by 7.94% and was intended to cover tax withholding on vested equity awards.
• Pagaya shares recently traded at $17.37, with a market capitalization of approximately $1.45 billion and a 52-week range of $10.40 to $33.12. Institutional investors own 57.14% of the company.
• Analysts maintain a broadly positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $31.25; recent targets range from $25 to $27.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) CAO Cory Vieira sold 2,170 shares of Pagaya Technologies stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $17.04, for a total value of $36,976.80. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY traded up $0.37 during trading hours on Tuesday, reaching $17.37. The stock had a trading volume of 2,879,694 shares, compared to its average volume of 2,380,330. The business's fifty day moving average is $20.39 and its two-hundred day moving average is $16.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 5.31 and a beta of 5.35. Pagaya Technologies Ltd. has a twelve month low of $10.40 and a twelve month high of $33.12.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth approximately $27,000. First Bancorp Inc ME acquired a new position in shares of Pagaya Technologies in the 2nd quarter worth approximately $36,000. Integrated Wealth Concepts LLC acquired a new position in shares of Pagaya Technologies in the 2nd quarter worth approximately $37,000. Allworth Financial LP grew its position in Pagaya Technologies by 300.4% during the 2nd quarter. Allworth Financial LP now owns 3,592 shares of the company's stock worth $66,000 after acquiring an additional 2,695 shares during the last quarter. Finally, State of Wyoming grew its position in Pagaya Technologies by 150.3% during 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 during the last quarter. 57.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Pagaya Technologies in a research report on Monday, September 14th. TD Cowen started coverage on shares of Pagaya Technologies in a research report on Thursday, September 3rd. They issued a "buy" rating and a $26.00 price target for the company. Zacks Research raised Pagaya Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Citizens Jmp upped their price objective 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. Finally, Jefferies Financial Group raised their target price on Pagaya Technologies from $23.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Pagaya Technologies presently has an average rating of "Buy" and a consensus price target of $31.25.

Pagaya Technologies Company Profile

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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