Insider Selling: Pagaya Technologies (NASDAQ:PGY) Director Sells 28,181 Shares

Key Points

• Pagaya Technologies director Tami Rosen sold 28,181 shares at an average price of $21.98, generating $619,418.38 and reducing her holdings by 62.84% to 16,665 shares. The sale follows two additional insider sales in June.
• Pagaya reported quarterly EPS of $0.73, well above the $0.20 consensus estimate, while revenue rose 9.7% year over year to $317.94 million, slightly below expectations.
• Analysts maintain a broadly positive view, with the stock carrying a consensus “Buy” rating and a $32.43 price target. PGY recently opened at $22.24, while institutional investors own 57.14% of the shares.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) Director Tami Rosen sold 28,181 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $21.98, for a total value of $619,418.38. Following the completion of the transaction, the director owned 16,665 shares in the company, valued at $366,296.70. This trade represents a 62.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $92,202.63.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $22.24 on Tuesday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.35 and a beta of 5.33. The business's 50 day moving average is $16.42 and its two-hundred day moving average is $14.94. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month 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.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.20 by $0.53. Pagaya Technologies had a return on equity of 51.56% and a net margin of 9.12%.The business had revenue of $317.94 million during the quarter, compared to analysts' expectations of $323.85 million. During the same period last year, the firm earned $0.10 EPS. The company's quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts expect that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

Analysts Set New Price Targets

PGY has been the topic of a number of recent analyst reports. Citizens Jmp upped their price target on shares of Pagaya Technologies from $22.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Friday. Zacks Research downgraded shares of Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of Pagaya Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. B. Riley Financial increased their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a report on Friday. Finally, Texas Capital upgraded shares of Pagaya Technologies to a "strong-buy" rating in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies currently has an average rating of "Buy" and a consensus price target of $32.43.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in Pagaya Technologies by 75.2% in the 4th quarter. Millennium Management LLC now owns 1,738,760 shares of the company's stock valued at $36,340,000 after purchasing an additional 746,216 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Pagaya Technologies by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company's stock valued at $17,871,000 after buying an additional 359,099 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Pagaya Technologies by 5.2% during the third quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company's stock valued at $43,127,000 after buying an additional 71,639 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Pagaya Technologies by 27.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,354,064 shares of the company's stock valued at $28,300,000 after buying an additional 290,379 shares during the period. Finally, Nuveen LLC boosted its position in Pagaya Technologies by 3.7% during the fourth quarter. Nuveen LLC now owns 1,299,274 shares of the company's stock worth $27,155,000 after acquiring an additional 46,536 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

About Pagaya Technologies

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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