Pagaya Technologies Ltd. (NASDAQ:PGY) Director Sells $57,105.72 in Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) Director Nicole Torraco sold 4,743 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.04, for a total transaction of $57,105.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pagaya Technologies Price Performance

PGY opened at $12.25 on Thursday. Pagaya Technologies Ltd. has a 1-year low of $8.56 and a 1-year high of $33.96. The company has a 50 day simple moving average of $11.40 and a two-hundred day simple moving average of $13.19. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.61.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). Pagaya Technologies had a negative return on equity of 4.23% and a negative net margin of 10.53%. The firm had revenue of $237.00 million during the quarter, compared to the consensus estimate of $229.45 million. During the same quarter in the previous year, the company earned ($0.48) earnings per share. As a group, equities analysts anticipate that Pagaya Technologies Ltd. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PGY shares. Citigroup started coverage on shares of Pagaya Technologies in a report on Friday, May 24th. They set a “neutral” rating and a $14.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Friday, June 7th. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of Pagaya Technologies in a report on Friday, May 10th. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Pagaya Technologies in a report on Thursday, May 9th. Finally, Wedbush decreased their price objective on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Pagaya Technologies has a consensus rating of “Moderate Buy” and an average price target of $26.94.

Hedge Funds Weigh In On Pagaya Technologies

Several hedge funds have recently modified their holdings of PGY. Yarra Square Partners LP purchased a new stake in Pagaya Technologies during the fourth quarter valued at $4,099,000. Allspring Global Investments Holdings LLC purchased a new stake in Pagaya Technologies during the first quarter valued at $12,686,000. Hood River Capital Management LLC purchased a new stake in Pagaya Technologies during the first quarter valued at $9,265,000. Quadrature Capital Ltd purchased a new stake in Pagaya Technologies during the fourth quarter valued at $1,079,000. Finally, ARK Investment Management LLC raised its stake in Pagaya Technologies by 58.8% during the fourth quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock valued at $2,056,000 after purchasing an additional 551,520 shares in the last quarter. 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.