Sanjiv Das Sells 13,301 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Key Points

• Pagaya President Sanjiv Das sold 13,301 shares at an average price of $20.21, generating $268,813.21. The sale reduced his stake by 7.92% to 154,635 shares and was made to cover tax withholding on vested equity awards.
• PGY recently traded at $21.04, with a market capitalization of approximately $1.76 billion. The stock’s 50-day and 200-day moving averages were $19.98 and $15.83, respectively, while its one-year range was $10.40 to $44.99.
• Wall Street analysts remain broadly positive, with the stock carrying an average “Buy” rating and a consensus price target of $31.25. Institutional investors own 57.14% of the company’s shares.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) President Sanjiv Das sold 13,301 shares of the firm's stock in a transaction on Saturday, September 12th. The shares were sold at an average price of $20.21, for a total transaction of $268,813.21. Following the sale, the president owned 154,635 shares in the company, valued at approximately $3,125,173.35. This trade represents a 7.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, August 3rd, Sanjiv Das sold 21,289 shares of Pagaya Technologies stock. The stock was sold at an average price of $22.00, for a total transaction of $468,358.00.
• On Thursday, June 25th, Sanjiv Das sold 14,000 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.83, for a total transaction of $221,620.00.

Pagaya Technologies Price Performance

PGY traded down $0.45 during trading on Tuesday, reaching $21.04. The stock had a trading volume of 1,965,098 shares, compared to its average volume of 3,586,891. The business has a 50-day moving average of $19.98 and a 200-day moving average of $15.83. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. 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 $1.76 billion, a PE ratio of 15.47 and a beta of 5.35.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PGY. Main Management ETF Advisors LLC grew its position in Pagaya Technologies by 1.0% during the 4th 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 last quarter. The Manufacturers Life Insurance Company lifted its position in Pagaya Technologies by 5.4% in the first quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company's stock valued at $176,000 after purchasing an additional 776 shares during the last quarter. Root Financial Partners LLC bought a new stake in Pagaya Technologies in the fourth quarter valued at approximately $27,000. Concurrent Investment Advisors LLC boosted its stake in shares of Pagaya Technologies by 5.1% during the second quarter. Concurrent Investment Advisors LLC now owns 28,903 shares of the company's stock valued at $527,000 after purchasing an additional 1,403 shares during the period. Finally, First Bancorp Inc ME purchased a new stake in shares of Pagaya Technologies during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 57.14% of the company's stock.

Wall Street Analyst Weigh In

PGY has been the topic of a number of research reports. TD Cowen began coverage on Pagaya Technologies in a report on Thursday, September 3rd. They set a "buy" rating and a $26.00 price objective on the stock. Jefferies Financial Group upped their target price on Pagaya Technologies from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. Citizens Jmp increased their price target on shares of Pagaya Technologies from $22.00 to $25.00 and gave the company a "market outperform" rating in a research report on Friday, July 31st. B. Riley Financial lifted their price target on shares of Pagaya Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Texas Capital upgraded shares of Pagaya Technologies to a "strong-buy" rating in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $31.25.

About Pagaya Technologies

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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