Pagaya Technologies Ltd. (NASDAQ:PGY) Insider Sells 17,570 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Tami Rosen sold 17,570 shares of Pagaya Technologies stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the sale, the insider now directly owns 73,516 shares of the company’s stock, valued at $886,602.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY traded down $0.99 during midday trading on Monday, reaching $10.69. 1,344,809 shares of the stock traded hands, compared to its average volume of 1,257,519. The company’s 50 day moving average is $11.87 and its 200 day moving average is $12.19. Pagaya Technologies Ltd. has a one year low of $8.56 and a one year high of $20.50. The stock has a market capitalization of $767.70 million, a PE ratio of -5.49 and a beta of 6.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 1.50.

Pagaya Technologies (NASDAQ:PGY) last released its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The company had revenue of $250.34 million for the quarter, compared to the consensus estimate of $239.16 million. Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%. On average, equities research analysts anticipate that Pagaya Technologies Ltd. will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Pagaya Technologies

Several large investors have recently added to or reduced their stakes in PGY. Allspring Global Investments Holdings LLC purchased a new stake in shares of Pagaya Technologies in the 1st quarter worth approximately $12,686,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pagaya Technologies by 14.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock worth $6,818,000 after purchasing an additional 83,913 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Pagaya Technologies by 36.2% during the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock valued at $2,830,000 after purchasing an additional 58,939 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Pagaya Technologies in the 1st quarter worth $1,101,000. Finally, Yarra Square Partners LP grew its stake in Pagaya Technologies by 29.9% during the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after buying an additional 142,500 shares during the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PGY shares. JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Oppenheimer started coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price for the company. Canaccord Genuity Group dropped their price target on shares of Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. B. Riley reduced their price objective on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.89.

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.