Tami Rosen Sells 17,570 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Tami Rosen sold 17,570 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the sale, the insider now directly owns 73,516 shares of the company’s stock, valued at approximately $886,602.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $11.04 on Wednesday. Pagaya Technologies Ltd. has a fifty-two week low of $8.56 and a fifty-two week high of $20.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $792.89 million, a P/E ratio of -5.60 and a beta of 6.33. The stock has a 50-day simple moving average of $11.76 and a two-hundred day simple moving average of $12.21.

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. B. Riley lowered their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Oppenheimer began coverage on shares of Pagaya Technologies in a research note on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price objective for the company. Canaccord Genuity Group reduced their target price on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JMP Securities reiterated a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Finally, Wedbush restated a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pagaya Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

Institutional Trading of Pagaya Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGY. nVerses Capital LLC acquired a new position in shares of Pagaya Technologies in the second quarter worth about $74,000. SG Americas Securities LLC purchased a new position in shares of Pagaya Technologies in the 2nd quarter valued at about $101,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pagaya Technologies in the 2nd quarter worth about $166,000. The Manufacturers Life Insurance Company purchased a new position in Pagaya Technologies during the second quarter worth approximately $187,000. Finally, Castle Hook Partners LP acquired a new stake in Pagaya Technologies in the first quarter valued at approximately $188,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.