Insider Transactions Alert: Pagaya Technologies Ltd President Sells $300K in Company Stock
In a recent development, Sanjiv Das, the President of Pagaya Technologies Ltd (NASDAQ: PGY), made significant stock sales totaling over $300,000. The transactions occurred on two separate dates, with prices ranging from $9.92 to $14.57 per share.
On April 16, 2024, Das sold 14,452 shares at $9.92 each. Later, on July 16, he sold an additional 10,794 shares at $14.57 per share. These sales were to meet tax obligations arising from a compensatory award vesting.
Despite the sales, Das retains a substantial number of shares, signaling continued interest in Pagaya's performance. Insider transactions like these can offer insights into executives' views on the company's valuation and future prospects.
In other news, Pagaya reported strong Q2 2024 financial results, surpassing revenue and EBITDA guidance. The company raised its full-year outlook and achieved a $1 billion annual revenue run rate. Strategic priorities include network expansion and cost efficiencies.
Investors may want to consider key metrics and insights from InvestingPro. Analysts have revised earnings projections upward, despite recent stock volatility. While Pagaya is not profitable yet, revenue growth signals potential for future earnings improvements.
Pagaya currently has a market cap of $918.52 million, with a negative P/E ratio. Income-focused investors should note the lack of dividends. For a more in-depth analysis, visit InvestingPro for additional tips and data.
In summary, Pagaya Technologies' recent insider transactions and financial performance indicate potential opportunities for investors to monitor and consider for their portfolios.