Yahav Yulzari Sells 238,004 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Yahav Yulzari sold 238,004 shares of the business’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 $3,608,140.64. Following the completion of the sale, the insider now directly owns 4,346,141 shares in the company, valued at $65,887,497.56. This trade represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Pagaya Technologies Stock Up 0.7%

Shares of NASDAQ PGY opened at $15.06 on Thursday. The firm’s 50-day simple moving average is $10.92 and its 200 day simple moving average is $10.81. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -2.74 and a beta of 5.88. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies Ltd. has a 12-month low of $8.20 and a 12-month high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $0.24 EPS. On average, research analysts expect that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC acquired a new position in Pagaya Technologies during the 4th quarter worth about $28,070,000. Point72 Asset Management L.P. lifted its position in Pagaya Technologies by 284.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $11,133,000 after buying an additional 886,539 shares in the last quarter. Two Sigma Investments LP lifted its position in Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock worth $7,675,000 after buying an additional 646,357 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Pagaya Technologies by 310.6% during the 4th quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock valued at $5,810,000 after purchasing an additional 473,063 shares during the period. Finally, Nuveen LLC acquired a new position in Pagaya Technologies during the 1st quarter valued at about $6,465,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PGY. B. Riley reaffirmed a “buy” rating and issued a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a 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 report on Thursday, February 13th. Finally, JMP Securities upped their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.61.

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.