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Sanjiv Das, President of Pagaya Technologies Ltd. (NASDAQ:PGY), recently sold 12,789 Class A ordinary shares of the company at an average price of $9.35 per share, totaling $119,577. The fintech company, currently valued at approximately $718 million, has shown significant price volatility in recent months, with the stock trading nearly 50% below its 52-week high of $19.20. According to InvestingPro analysis, PGY appears undervalued at current levels. This sale, dated April 17, 2025, was conducted to satisfy tax withholding obligations stemming from the vesting of a compensatory award.
In addition to the sale, on April 16, 2025, Das acquired 22,916 Class A ordinary shares through the exercise of restricted stock units (RSUs) at no cost. This acquisition increased his total holdings to 118,606 shares prior to the sale. Following the sale, Das’s direct ownership stands at 105,817 shares.
In other recent news, Pagaya Technologies has successfully priced a $295 million asset-backed securities (ABS) transaction, marking its second auto loan ABS deal of 2025. The transaction is rated AA and reflects the company’s ability to execute deals efficiently, even in volatile market conditions. Additionally, Oppenheimer analyst Rayna Kumar has increased Pagaya’s price target to $16, citing strong fourth-quarter earnings and promising first-quarter and full-year 2025 guidance that surpassed expectations. Despite a $229 million credit-related impairment charge, Pagaya’s enhanced underwriting practices have mitigated concerns for its 2024 vintages.
Moreover, Pagaya has secured a $2.4 billion forward flow agreement with Blue Owl and generated $900 million from recent ABS transactions, indicating rising demand for its credit assets. Analyst David Scharf from Citizens JMP has reaffirmed a Market Outperform rating with a $26 price target, emphasizing the strategic importance of Pagaya’s partnership with Klarna for Walmart (NYSE:WMT)’s OnePay digital wallet. Meanwhile, Benchmark analysts have maintained a Buy rating and a $25 price target, highlighting the company’s self-funding growth and new pre-screen lending product. Pagaya has also updated its investor FAQs on its website, reflecting its commitment to maintaining clear communication with investors.
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