Pagaya (NASDAQ:PGY) Technologies Ltd. (NASDAQ:PGY) Deputy Chief Financial Officer, Bower Scott, recently engaged in transactions involving the company's shares, according to the latest SEC filings. On May 16, 2024, Scott sold a total of 3,155 Class A Ordinary Shares at a price of $11.90 each, resulting in a total value of $37,544.
The sale came a day after Scott acquired 8,538 shares through the exercise of options at no cost. Following the sale, Scott's direct ownership in the company was reduced to 6,854 Class A Ordinary Shares.
In addition to the transactions involving non-derivative securities, Scott also reported transactions in derivative securities on May 15, 2024. Specifically, 8,538 Restricted Stock Units (RSUs) vested for Scott as part of a scheduled vesting plan. According to the footnotes in the filing, a quarter of the 34,153 RSUs initially granted to Scott vested on this date, with the next quarter set to vest on January 1, 2025, and the remaining portion to vest in equal amounts every three months over the following 12 months.
The transactions were disclosed in compliance with federal securities regulations, providing transparency into the trading activities of corporate insiders. Investors often monitor such filings to gain insights into the confidence level that company executives and directors have in the firm's prospects.
Shares of Pagaya Technologies Ltd. are publicly traded on the NASDAQ, offering financial services as part of their business operations. The company's business address is located in Tel Aviv, and it operates under the finance services industry classification.
InvestingPro Insights
Pagaya Technologies Ltd. (NASDAQ:PGY) has been navigating through a dynamic market environment, reflected by the recent insider trading activities. InvestingPro data paints a broader picture of the company's financial health and market performance. With a market capitalization of approximately $843.71 million and a notable revenue growth of 13.81% over the last twelve months as of Q1 2024, Pagaya is showcasing its potential for expansion in the financial services sector.
Despite not being profitable over the last twelve months, analysts on InvestingPro are optimistic about the company's future, predicting that Pagaya will turn profitable this year. This aligns with the InvestingPro Tip that two analysts have revised their earnings upwards for the upcoming period, signaling confidence in the company's ability to improve its financial standing. Additionally, the company's liquid assets surpass short-term obligations, indicating a solid liquidity position that may reassure investors concerned about the company's ability to meet its immediate financial obligations.
Investors should note that Pagaya's stock has experienced high price volatility, as indicated by another InvestingPro Tip. This is further evidenced by the stock's price performance, which saw a strong return of 14.02% over the last month, yet a significant drop of 29.32% over the last six months as of the same date. This volatility could be a point of consideration for those looking to invest in PGY shares.
For those seeking more in-depth analysis and additional insights, InvestingPro offers more tips for Pagaya Technologies, which can be accessed through InvestingPro's platform. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of expert analysis and data to inform your investment decisions.
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