Evangelos Perros Sells 21,305 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 21,305 shares of Pagaya Technologies stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $212,410.85. Following the sale, the chief financial officer now owns 54,029 shares in the company, valued at approximately $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pagaya Technologies Trading Up 8.1 %

Shares of NASDAQ PGY opened at $10.41 on Friday. The business has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $11.84. The company has a market cap of $766.76 million, a price-to-earnings 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 company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Institutional Trading of Pagaya Technologies

A number of hedge funds have recently bought and sold shares of PGY. 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 worth $3,296,000 after acquiring an additional 304,890 shares in the last quarter. Arizona PSPRS Trust purchased a new position in Pagaya Technologies during the 3rd quarter worth approximately $2,183,000. Millennium Management LLC raised its stake in Pagaya Technologies by 455.9% during the 2nd 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 during the period. Divisadero Street Capital Management LP purchased a new stake in shares of Pagaya Technologies in the second quarter valued at $2,273,000. Finally, Yarra Square Partners LP boosted its position 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 worth $7,903,000 after buying an additional 142,500 shares during the period. 57.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group initiated coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target for the company. Canaccord Genuity Group decreased 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 dropped their price objective on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Benchmark reaffirmed a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Finally, Oppenheimer initiated coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

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.