Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) Insider Sells 21,547 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Tami Rosen sold 21,547 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the completion of the sale, the insider now directly owns 73,550 shares in the company, valued at approximately $733,293.50. This represents a 22.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, November 6th, Tami Rosen sold 7,659 shares of Pagaya Technologies stock. The stock was sold at an average price of $12.00, for a total transaction of $91,908.00.
• On Thursday, October 31st, Tami Rosen sold 17,570 shares of Pagaya Technologies stock. The shares were sold at an average price of $12.06, for a total value of $211,894.20.

Pagaya Technologies Stock Performance

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

Analyst Ratings Changes

PGY has been the subject of several analyst reports. Oppenheimer assumed coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price objective for the company. 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. Canaccord Genuity Group dropped their price target on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. UBS Group assumed coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective for the company. Finally, 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 report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Trading of Pagaya Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PGY. BNP Paribas Financial Markets boosted its stake in Pagaya Technologies by 48.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after purchasing an additional 3,181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Pagaya Technologies in the second quarter valued at about $166,000. The Manufacturers Life Insurance Company boosted its stake in shares of Pagaya Technologies by 13.2% during the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after buying an additional 1,937 shares during the period. Intech Investment Management LLC purchased a new position in shares of Pagaya Technologies during the third quarter worth about $191,000. Finally, Virtu Financial LLC acquired a new position in Pagaya Technologies in the 3rd quarter valued at about $223,000. Hedge funds and other institutional investors 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.