Pagaya Technologies (NASDAQ:PGY) CFO Sells $385,170.80 in Stock

Key Points

• Pagaya Technologies CFO Evangelos Perros sold 12,754 shares for a total of $385,170.80, decreasing his ownership by 14.03%.
• The company's stock has seen a 5.4% decline on the day, trading at around $29.40, with increased trading volume of over 7 million shares.
• Several hedge funds have increased their positions in Pagaya Technologies, with 57.14% of the stock owned by institutional investors.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) CFO Evangelos Perros sold 12,754 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $385,170.80. Following the completion of the sale, the chief financial officer owned 78,163 shares in the company, valued at $2,360,522.60. This represents a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, September 15th, Evangelos Perros sold 11,553 shares of Pagaya Technologies stock. The shares were sold at an average price of $40.62, for a total transaction of $469,282.86.
• On Tuesday, September 9th, Evangelos Perros sold 14,356 shares of Pagaya Technologies stock. The shares were sold at an average price of $37.34, for a total transaction of $536,053.04.
• On Friday, September 5th, Evangelos Perros sold 9,435 shares of Pagaya Technologies stock. The shares were sold at an average price of $38.84, for a total transaction of $366,455.40.

Pagaya Technologies Trading Down 5.4%

NASDAQ:PGY traded down $1.67 during trading hours on Friday, reaching $29.40. The company's stock had a trading volume of 7,390,819 shares, compared to its average volume of 2,940,100. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -7.68 and a beta of 5.86. The firm has a 50-day simple moving average of $34.47 and a 200-day simple moving average of $22.39. Pagaya Technologies Ltd. has a 1 year low of $8.20 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PGY. Bank of America Corp DE raised its holdings in shares of Pagaya Technologies by 9.7% during the fourth quarter. Bank of America Corp DE now owns 144,097 shares of the company's stock valued at $1,339,000 after purchasing an additional 12,760 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Pagaya Technologies during the fourth quarter valued at approximately $105,000. California State Teachers Retirement System raised its holdings in shares of Pagaya Technologies by 5.4% during the fourth quarter. California State Teachers Retirement System now owns 35,771 shares of the company's stock valued at $332,000 after purchasing an additional 1,848 shares during the last quarter. GAMMA Investing LLC increased its holdings in Pagaya Technologies by 57,867.5% during the first quarter. GAMMA Investing LLC now owns 46,374 shares of the company's stock valued at $4,425,000 after buying an additional 46,294 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Pagaya Technologies by 446.1% during the first quarter. Bank of New York Mellon Corp now owns 482,018 shares of the company's stock valued at $5,052,000 after buying an additional 393,752 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PGY shares. Benchmark reissued a "buy" rating and set a $48.00 price objective on shares of Pagaya Technologies in a research note on Wednesday. JMP Securities boosted their price objective on shares of Pagaya Technologies from $26.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Monday, August 11th. Citigroup boosted their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Pagaya Technologies from $27.00 to $38.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Canaccord Genuity Group boosted their price objective on shares of Pagaya Technologies from $28.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.33.

About Pagaya Technologies

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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