Insider Selling: Pagaya Technologies (NASDAQ:PGY) Insider Sells 15,026 Shares of Stock

Key Points

• Tami Rosen, an insider at Pagaya Technologies, sold 15,026 shares at an average price of $30.73 on October 1st, resulting in a total value of approximately $461,748, reflecting a 34.78% decrease in their position.
• Pagaya Technologies' stock recently decreased by 5.4%, trading at $29.40, with a twelve month low of $8.20 and high of $44.99.
• Several brokerages have upgraded Pagaya's stock rating, with Citigroup raising its price target from $16.50 to $40.00 and labeling it a "buy," while Weiss Ratings maintained a "sell" rating.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) insider Tami Rosen sold 15,026 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $30.73, for a total value of $461,748.98. Following the completion of the transaction, the insider owned 28,181 shares in the company, valued at $866,002.13. This trade represents a 34.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, September 15th, Tami Rosen sold 13,870 shares of Pagaya Technologies stock. The shares were sold at an average price of $41.20, for a total value of $571,444.00.

Pagaya Technologies Stock Down 5.4%

Shares of NASDAQ:PGY traded down $1.67 on Friday, reaching $29.40. The company had a trading volume of 7,390,819 shares, compared to its average volume of 2,940,100. Pagaya Technologies Ltd. has a twelve month low of $8.20 and a twelve month high of $44.99. The stock has a 50-day moving average price of $34.47 and a 200 day moving average price of $22.39. The stock has a market capitalization of $2.25 billion, a P/E ratio of -7.68 and a beta of 5.86. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PGY. Citigroup boosted their price target on Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Stephens started coverage on Pagaya Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 price target for the company. Canaccord Genuity Group upped their price target on Pagaya Technologies from $28.00 to $36.00 and gave the company a "buy" rating in a report on Monday, August 11th. Oppenheimer upped their price objective on Pagaya Technologies from $16.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Pagaya Technologies in a research note on Saturday, September 27th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.33.

Institutional Trading of Pagaya Technologies

Institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB acquired a new position in Pagaya Technologies during the second quarter worth approximately $25,000. Virtus Advisers LLC acquired a new position in Pagaya Technologies during the first quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd grew its position in shares of Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company's stock valued at $42,000 after purchasing an additional 520 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Pagaya Technologies by 5,431.3% in the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock valued at $46,000 after purchasing an additional 4,345 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Pagaya Technologies by 77.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,435 shares of the company's stock valued at $95,000 after purchasing an additional 1,935 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.

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