Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) Insider Sells 7,659 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Tami Rosen sold 7,659 shares of Pagaya Technologies stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $12.00, for a total value of $91,908.00. Following the completion of the transaction, the insider now directly owns 65,857 shares of the company’s stock, valued at approximately $790,284. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Tami Rosen also recently made the following trade(s):

• On Thursday, October 31st, Tami Rosen sold 17,570 shares of Pagaya Technologies stock. The stock was sold at an average price of $12.06, for a total value of $211,894.20.

Pagaya Technologies Trading Up 5.8 %

Shares of NASDAQ:PGY traded up $0.71 during mid-day trading on Thursday, hitting $13.01. 1,379,971 shares of the company traded hands, compared to its average volume of 1,259,604. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.50 and a current ratio of 1.50. Pagaya Technologies Ltd. has a 52-week low of $8.56 and a 52-week high of $20.50. The firm’s 50 day simple moving average is $11.75 and its 200 day simple moving average is $12.21.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. The business had revenue of $250.34 million for the quarter, compared to analysts’ expectations of $239.16 million. As a group, analysts forecast that Pagaya Technologies Ltd. will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGY. Mirae Asset Global Investments Co. Ltd. boosted its position in Pagaya Technologies by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock worth $6,818,000 after acquiring an additional 83,913 shares during the period. ARK Investment Management LLC raised its position in Pagaya Technologies by 36.2% during the second quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock valued at $2,830,000 after buying an additional 58,939 shares during the period. Sei Investments Co. acquired a new position in Pagaya Technologies during the first quarter valued at $1,101,000. Yarra Square Partners LP raised its position in Pagaya Technologies by 29.9% during 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 during the period. Finally, Millennium Management LLC grew its stake in Pagaya Technologies by 455.9% in the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after purchasing an additional 179,235 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PGY. Benchmark restated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Wedbush reissued a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a report on Monday, August 12th. Oppenheimer started coverage on Pagaya Technologies in a report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price target for the company. Finally, Canaccord Genuity Group decreased their price target on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two 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 has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

Pagaya Technologies Company Profile

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.