Sanjiv Das Sells 21,289 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Key Points

• Pagaya President Sanjiv Das sold 21,289 shares at an average price of $22, generating $468,358 and reducing his holdings by 12.87% to 144,186 shares. He also sold shares in two earlier transactions in June.
• Pagaya reported quarterly EPS of $0.73, beating the $0.20 consensus estimate, while revenue reached $317.94 million, up 9.7% year over year but below analyst expectations.
• Despite the insider selling, analysts maintain a consensus “Buy” rating with a $32.43 price target. The stock recently traded near $22.24, and institutional investors own 57.14% of the company.

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) President Sanjiv Das sold 21,289 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $22.00, for a total transaction of $468,358.00. Following the transaction, the president owned 144,186 shares of the company's stock, valued at approximately $3,172,092. The trade was a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sanjiv Das also recently made the following trade(s):

• On Thursday, June 25th, Sanjiv Das sold 14,000 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.83, for a total value of $221,620.00.
• On Friday, June 12th, Sanjiv Das sold 13,309 shares of Pagaya Technologies stock. The shares were sold at an average price of $16.23, for a total value of $216,005.07.

Pagaya Technologies Price Performance

Pagaya Technologies stock 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. Pagaya Technologies Ltd. has a 52-week low of $10.40 and a 52-week high of $44.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. The stock's 50 day moving average price is $16.42 and its two-hundred day moving average price is $14.94.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.53. The business had revenue of $317.94 million for the quarter, compared to analyst estimates of $323.85 million. Pagaya Technologies had a net margin of 9.12% and a return on equity of 51.56%. Pagaya Technologies's revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts predict that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PGY. Zacks Research lowered Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Canaccord Genuity Group raised their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Friday. Citizens Jmp boosted their price objective on Pagaya Technologies from $22.00 to $25.00 and gave the company a "market outperform" rating in a report on Friday. Texas Capital raised Pagaya Technologies to a "strong-buy" rating in a research report on Wednesday, June 10th. Finally, B. Riley Financial increased their target price on Pagaya Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Friday. Two investment 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $32.43.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently added to or reduced their stakes in PGY. Segall Bryant & Hamill LLC increased its holdings in Pagaya Technologies by 81.0% during the 1st quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company's stock worth $1,380,000 after purchasing an additional 53,011 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of Pagaya Technologies by 353.2% during the first quarter. Edgestream Partners L.P. now owns 373,771 shares of the company's stock valued at $4,354,000 after buying an additional 291,291 shares during the last quarter. Royal Bank of Canada grew its holdings in Pagaya Technologies by 134.6% during the first quarter. Royal Bank of Canada now owns 35,940 shares of the company's stock worth $419,000 after buying an additional 20,623 shares in the last quarter. Empowered Funds LLC grew its holdings in Pagaya Technologies by 4,562.7% during the first quarter. Empowered Funds LLC now owns 116,661 shares of the company's stock worth $1,359,000 after buying an additional 114,159 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company's stock valued at $176,000 after buying an additional 776 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company's stock.

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.

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