Pagaya Technologies (NASDAQ:PGY) CAO Cory Vieira Sells 1,458 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 1,458 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $15.83, for a total transaction of $23,080.14. Following the completion of the transaction, the chief accounting officer owned 20,959 shares of the company’s stock, valued at $331,780.97. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cory Vieira also recently made the following trade(s):

• On Tuesday, June 2nd, Cory Vieira sold 2,140 shares of Pagaya Technologies stock. The stock was sold at an average price of $15.01, for a total transaction of $32,121.40.

Pagaya Technologies Stock Performance

Pagaya Technologies stock opened at $16.63 on Tuesday. Pagaya Technologies Ltd. has a 1-year low of $10.40 and a 1-year high of $44.99. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $1.38 billion, a PE ratio of 15.54 and a beta of 5.35. The firm’s 50 day simple moving average is $14.46 and its 200 day simple moving average is $15.87.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. The firm had revenue of $91.63 million during the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. As a group, analysts expect that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently made changes to their positions in PGY. Root Financial Partners LLC purchased a new stake in shares of Pagaya Technologies in the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd raised its position in Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,084 shares during the period. Transamerica Financial Advisors LLC bought a new stake in Pagaya Technologies in the fourth quarter worth $30,000. Quarry LP lifted its stake in Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Pagaya Technologies during the fourth quarter valued at about $52,000. 57.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PGY. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pagaya Technologies has an average rating of “Buy” and an average target price of $34.50.

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.