JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Evangelos Perros, the Chief Financial Officer of Pagaya Technologies Ltd. (NASDAQ:PGY), a fintech company with a market capitalization of $736 million and a "GOOD" financial health score according to InvestingPro, executed a significant transaction this week. According to a recent filing, Perros sold 12,799 Class A Ordinary Shares on April 2, 2025, at an average price of $10.53 per share, amounting to a total of $134,773. The sale price was notably higher than the current trading price of $9.64, though the stock has shown strong momentum with a 19.5% gain year-to-date.
This sale was reportedly carried out to satisfy tax withholding obligations arising from the quarterly vesting of a compensatory award. Following the transaction, Perros holds 64,002 shares directly.
Additionally, on April 1, 2025, Perros acquired 22,772 Class A Ordinary Shares at no cost, as part of a vesting of restricted stock units. This acquisition increased his total direct holdings to 159,360 shares before the subsequent sale.
In other recent news, Pagaya Technologies has seen several significant developments. Oppenheimer analyst Rayna Kumar raised the price target for Pagaya to $16, following the company’s strong fourth-quarter earnings that exceeded expectations. The firm reported a 4.5% margin for fee revenue less production costs, aligning with its higher projections for 2024. Meanwhile, Citizens JMP maintained a Market Outperform rating with a $26 price target, emphasizing Pagaya’s role in the evolving BNPL sector, particularly through its partnership with Klarna and Walmart (NYSE:WMT).
Benchmark analysts also reiterated a Buy rating with a $25 price target, highlighting Pagaya’s resilience and self-funding capability, which was achieved in the fourth quarter of 2024. The introduction of a new pre-screen lending product is expected to further enhance the company’s offerings. Additionally, JMP Securities increased Pagaya’s price target to $26, citing strong unit economics and a projected 40% growth in Adjusted EBITDA by 2025.
Pagaya’s strategic partnerships and disciplined growth approach are seen as key strengths by analysts. The company has also updated its investor FAQs to maintain clear communication with its stakeholders. These recent developments reflect a positive outlook on Pagaya’s financial performance and strategic initiatives.
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