Evangelos Perros Sells 14,356 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Key Points

• Pagaya Technologies CFO Evangelos Perros sold 14,356 shares on September 9 for a total of $536,053.04, reducing his ownership by 19.55%.
• The company's stock increased by 1.4% to reach $37.72, with a trading volume of approximately 2.55 million shares.
• Analysts' ratings for Pagaya Technologies have varied, with a consensus rating of "Moderate Buy" and a price target averaging $34.33.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) CFO Evangelos Perros sold 14,356 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $37.34, for a total value of $536,053.04. Following the completion of the sale, the chief financial officer directly owned 59,079 shares of the company's stock, valued at $2,206,009.86. The trade was a 19.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $366,455.40.
• On Wednesday, July 2nd, Evangelos Perros sold 12,755 shares of Pagaya Technologies stock. The stock was sold at an average price of $22.57, for a total value of $287,880.35.
• On Thursday, June 12th, Evangelos Perros sold 11,768 shares of Pagaya Technologies stock. The stock was sold at an average price of $17.90, for a total value of $210,647.20.

Pagaya Technologies Stock Performance

Shares of PGY stock traded up $1.75 during trading on Friday, hitting $39.88. The company's stock had a trading volume of 2,557,683 shares, compared to its average volume of 2,708,060. Pagaya Technologies Ltd. has a 52 week low of $8.20 and a 52 week high of $41.48. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $31.26 and a 200-day moving average of $19.71. The company has a market cap of $3.06 billion, a PE ratio of -10.42 and a beta of 5.96.

Analysts Set New Price Targets

Several analysts have weighed in on PGY shares. JMP Securities raised their price target on Pagaya Technologies from $26.00 to $35.00 and gave the company a "market outperform" rating in a report on Monday, August 11th. Stephens initiated coverage on Pagaya Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $22.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on Pagaya Technologies from $27.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen cut Pagaya Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. Finally, Canaccord Genuity Group upped their price objective on Pagaya Technologies from $28.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.33.

Hedge Funds Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGY. Hsbc Holdings PLC bought a new position in Pagaya Technologies in the 4th quarter valued at approximately $172,000. Voya Investment Management LLC lifted its position in Pagaya Technologies by 62.3% in the 4th quarter. Voya Investment Management LLC now owns 23,729 shares of the company's stock valued at $220,000 after acquiring an additional 9,108 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Pagaya Technologies by 50.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,754 shares of the company's stock valued at $267,000 after buying an additional 9,638 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Pagaya Technologies by 1,249.2% during the 4th quarter. BNP Paribas Financial Markets now owns 131,637 shares of the company's stock valued at $1,223,000 after buying an additional 121,880 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Pagaya Technologies by 9.7% during the 4th quarter. Bank of America Corp DE now owns 144,097 shares of the company's stock valued at $1,339,000 after buying an additional 12,760 shares during the period. 57.14% of the stock is owned by institutional investors.

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.