Pagaya Technologies (NASDAQ:PGY) CFO Sells $147,465.36 in Stock

Key Points

• Evangelos Perros, Pagaya's CFO, sold 13,004 shares on April 1 at an average price of $11.34 for total proceeds of $147,465.36, reducing his ownership by 9.62% to 122,174 shares (SEC filing).
• Pagaya traded near $11.77 (up 0.6%); the company posted Q results with EPS $0.80 (beat) and revenue $334.8M (slightly below expectations) with 19.8% YoY revenue growth, and analysts carry a "Moderate Buy" consensus with a $33.11 target.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) CFO Evangelos Perros sold 13,004 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $11.34, for a total transaction of $147,465.36. Following the completion of the transaction, the chief financial officer directly owned 122,174 shares in the company, valued at $1,385,453.16. This trade represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Evangelos Perros also recently made the following trade(s):

• On Thursday, March 12th, Evangelos Perros sold 8,425 shares of Pagaya Technologies stock. The shares were sold at an average price of $10.99, for a total value of $92,590.75.
• On Monday, January 5th, Evangelos Perros sold 9,750 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.99, for a total value of $224,152.50.

Pagaya Technologies Trading Up 0.6%

Pagaya Technologies stock traded up $0.07 during trading on Thursday, reaching $11.77. 1,947,974 shares of the company were exchanged, compared to its average volume of 3,949,565. The stock's 50 day simple moving average is $13.46 and its two-hundred day simple moving average is $22.06. The company has a market capitalization of $971.38 million, a P/E ratio of 13.22 and a beta of 5.73. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. Pagaya Technologies Ltd. has a 52-week low of $8.50 and a 52-week high of $44.99.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its earnings results on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company had revenue of $334.81 million during the quarter, compared to analysts' expectations of $348.75 million. During the same period in the prior year, the business earned $0.17 EPS. The firm's quarterly revenue was up 19.8% on a year-over-year basis. On average, equities research analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Pagaya Technologies by 436.9% in the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company's stock valued at $29,534,000 after purchasing an additional 1,127,242 shares during the period. BNP Paribas Financial Markets increased its stake in Pagaya Technologies by 1,231.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company's stock worth $25,591,000 after buying an additional 1,110,208 shares during the period. Millennium Management LLC increased its stake in Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock worth $13,230,000 after buying an additional 961,944 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Pagaya Technologies by 221.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company's stock worth $28,833,000 after buying an additional 950,443 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Pagaya Technologies by 1,556.3% during the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company's stock worth $19,952,000 after buying an additional 631,435 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PGY shares. Zacks Research downgraded shares of Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Jefferies Financial Group dropped their price target on shares of Pagaya Technologies from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. Wall Street Zen downgraded shares of Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 6th. Canaccord Genuity Group reduced their price target on shares of Pagaya Technologies from $39.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Finally, Freedom Capital upgraded Pagaya Technologies to a "strong-buy" rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.11.

Pagaya Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.