Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Avital Pardo Sells 237,748 Shares

Pagaya Technologies Ltd. (NASDAQ:PGY) CTO Avital Pardo sold 237,748 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the completion of the transaction, the chief technology officer now directly owns 2,401,528 shares of the company’s stock, valued at approximately $36,407,164.48. This trade represents a 9.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Pagaya Technologies Stock Performance

Shares of PGY opened at $14.96 on Wednesday. The firm has a 50-day moving average of $10.83 and a 200-day moving average of $10.78. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $19.20. The company has a market cap of $1.13 billion, a PE ratio of -2.72 and a beta of 5.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The company had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, equities analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 13th. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Finally, JMP Securities raised their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.61.

Institutional Trading of Pagaya Technologies

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Pagaya Technologies by 502.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock worth $1,610,000 after buying an additional 127,012 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Pagaya Technologies by 80.7% during the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock worth $123,000 after buying an additional 5,925 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Pagaya Technologies by 14.7% during the 4th quarter. Rhumbline Advisers now owns 75,620 shares of the company’s stock worth $703,000 after buying an additional 9,674 shares during the last quarter. Barclays PLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $595,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.