Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Sells 21,305 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 21,305 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the transaction, the chief financial officer now directly owns 54,029 shares in the company, valued at $538,669.13. The trade was a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Pagaya Technologies Stock Up 8.1 %

PGY stock traded up $0.78 during trading hours on Friday, reaching $10.41. 2,295,289 shares of the stock were exchanged, compared to its average volume of 1,778,645. The firm’s 50-day moving average is $10.38 and its 200-day moving average is $11.84. Pagaya Technologies Ltd. has a 12 month low of $8.20 and a 12 month high of $20.00. The company has a market cap of $766.76 million, a price-to-earnings ratio of -4.10 and a beta of 6.11. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Wall Street Analysts Forecast Growth

PGY has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered their price target on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. B. Riley reduced their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Benchmark restated a “buy” rating and issued a $21.00 price objective on shares of Pagaya Technologies in a research report on Wednesday, October 16th. UBS Group initiated coverage on Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 target price on the stock. Finally, Oppenheimer assumed coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. increased its position in shares of Pagaya Technologies by 4,374.9% in the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after acquiring an additional 304,890 shares during the last quarter. Arizona PSPRS Trust acquired a new position in shares of Pagaya Technologies during the 3rd quarter worth approximately $2,183,000. Millennium Management LLC raised its stake in shares of Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Pagaya Technologies in the 2nd quarter valued at approximately $2,273,000. Finally, Yarra Square Partners LP grew its stake in shares of Pagaya Technologies by 29.9% in the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after buying an additional 142,500 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

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.