Pagaya Technologies (NASDAQ:PGY) Director Tami Rosen Sells 1,986 Shares of Stock

Key Points

• Director Tami Rosen sold 1,986 Pagaya Technologies shares at an average price of $17.83, generating $35,410.38 and reducing her ownership by 12.9% to 13,414 shares.
• Rosen has made several additional sales since August, totaling more than 46,000 shares, while Pagaya’s stock recently traded at $18.40—below its 50-day average of $20.47 but above its 200-day average of $16.58.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a consensus price target of $31.25; institutional investors and hedge funds own 57.14% of the company.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) Director Tami Rosen sold 1,986 shares of Pagaya Technologies stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $17.83, for a total transaction of $35,410.38. Following the completion of the sale, the director owned 13,414 shares of the company's stock, valued at $239,171.62. This trade represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, September 18th, Tami Rosen sold 8,504 shares of Pagaya Technologies stock. The shares were sold at an average price of $20.38, for a total transaction of $173,311.52.
• On Saturday, September 12th, Tami Rosen sold 7,121 shares of Pagaya Technologies stock. The stock was sold at an average price of $20.21, for a total transaction of $143,915.41.
• On Thursday, September 3rd, Tami Rosen sold 1,265 shares of Pagaya Technologies stock. The stock was sold at an average price of $23.07, for a total transaction of $29,183.55.
• On Monday, August 3rd, Tami Rosen sold 28,181 shares of Pagaya Technologies stock. The shares were sold at an average price of $21.98, for a total transaction of $619,418.38.

Pagaya Technologies Stock Performance

PGY stock traded up $0.42 during midday trading on Monday, reaching $18.40. The stock had a trading volume of 1,811,901 shares, compared to its average volume of 3,526,248. The firm has a fifty day simple moving average of $20.47 and a two-hundred day simple moving average of $16.58. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. The stock has a market cap of $1.54 billion, a PE ratio of 13.53 and a beta of 5.50.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PGY shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Pagaya Technologies in a report on Monday, September 14th. TD Cowen initiated coverage on shares of Pagaya Technologies in a research report on Thursday, September 3rd. They set a "buy" rating and a $26.00 target price for the company. Jefferies Financial Group upped their price target on shares of Pagaya Technologies from $23.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Canaccord Genuity Group increased their price target on Pagaya Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Texas Capital upgraded Pagaya Technologies to a "strong-buy" rating in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $31.25.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently modified their holdings of PGY. Engineers Gate Manager LP increased its stake in Pagaya Technologies by 158.5% during the second quarter. Engineers Gate Manager LP now owns 130,172 shares of the company's stock worth $2,376,000 after acquiring an additional 79,810 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Pagaya Technologies by 4,562.7% in the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company's stock valued at $1,359,000 after purchasing an additional 114,159 shares during the last quarter. SPX Gestao de Recursos Ltda grew its holdings in shares of Pagaya Technologies by 49.7% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 180,100 shares of the company's stock worth $2,098,000 after purchasing an additional 59,800 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Pagaya Technologies during the 1st quarter worth about $1,426,000. Finally, Squarepoint Ops LLC increased its position in shares of Pagaya Technologies by 614.7% during the 2nd quarter. Squarepoint Ops LLC now owns 252,036 shares of the company's stock worth $4,600,000 after purchasing an additional 216,770 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

About Pagaya Technologies

Pagaya Technologies Ltd. is a financial technology company that uses artificial intelligence, machine learning and data analytics to connect financial institutions with institutional investors. Its technology analyzes large amounts of data to assess credit and other asset characteristics, helping partners originate, manage and fund assets while providing investors with access to diversified investment opportunities.

The company's platform has supported asset classes including personal loans, auto loans and residential real estate assets.

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