Bullish indicating open at $55-$60, IPO prices at $37
NEW YORK—Tami Rosen, Chief Development Officer at Pagaya Technologies Ltd. (NASDAQ:PGY), a $743 million market cap fintech company, recently executed a series of transactions involving the company’s Class A Ordinary Shares. According to a filing with the Securities and Exchange Commission, Rosen sold 5,779 shares on February 3, 2025, at a price of $9.28 per share, totaling approximately $53,629. This sale was conducted to meet tax withholding obligations related to the vesting of a compensatory award.
Earlier, on January 31, 2025, Rosen acquired 15,625 shares at no cost through the vesting of restricted stock units. Following these transactions, Rosen holds 83,396 shares in Pagaya Technologies directly. The stock has experienced significant volatility, declining over 30% in the past six months, though it currently trades at $10.11.
These financial maneuvers are part of routine administrative adjustments and reflect the ongoing management of equity compensation for company executives. Investors often keep a close watch on such transactions as they can provide insights into the executive’s confidence in the company’s future performance. According to InvestingPro analysis, while the company isn’t currently profitable, analysts expect profitability this year, and the stock appears slightly undervalued based on Fair Value estimates. Investors can access detailed financial analysis and additional insights through InvestingPro’s comprehensive research report.
In other recent news, Pagaya Technologies reported robust financial results during its third quarter 2024 earnings call, with a revenue rate nearing $1 billion and adjusted EBITDA at $220 million. The company’s strategic initiatives are aimed at achieving GAAP profitability by 2025. UBS resumed coverage on Pagaya, issuing a neutral rating and highlighted the potential for revenue growth. However, UBS expressed caution due to uncertainties surrounding the level of credit losses from risk retention assets.
In corporate developments, shareholders approved significant changes to Pagaya’s Articles of Association, including the phased declassification of the board of directors, amendments related to executive officer employment, and an adjustment to the ownership threshold affecting share convertibility. Cory Vieira was appointed as the new Chief Accounting Officer, bringing over two decades of experience to the role.
These recent developments reflect Pagaya’s commitment to financial growth, corporate governance, and leadership strengthening. The company’s anticipated revenue growth and strategic initiatives are expected to drive it towards its profitability goal in the coming years.
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