Sanjiv Das Sells 3,945 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) President Sanjiv Das sold 3,945 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the sale, the president directly owned 129,986 shares in the company, valued at approximately $2,988,378.14. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Pagaya Technologies Price Performance

PGY opened at $23.54 on Wednesday. The firm has a market cap of $1.89 billion, a PE ratio of -8.82 and a beta of 5.86. The stock has a 50-day moving average price of $23.70 and a 200-day moving average price of $28.27. Pagaya Technologies Ltd. has a 1 year low of $8.27 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41.

Analyst Ratings Changes

PGY has been the subject of several analyst reports. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Benchmark reissued a “buy” rating and issued a $48.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 1st. Wall Street Zen downgraded Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Finally, Canaccord Genuity Group boosted their target price on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PGY. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Pagaya Technologies during the 2nd quarter valued at about $25,000. Versant Capital Management Inc bought a new stake in Pagaya Technologies during the third quarter valued at approximately $25,000. LSV Asset Management purchased a new stake in Pagaya Technologies during the third quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd raised its position in Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after acquiring an additional 520 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in shares of Pagaya Technologies during the 3rd quarter worth $84,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

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.