Additionally, on January 16, 2025, Das acquired 22,917 Class A Ordinary Shares through the vesting of Restricted Stock Units (RSUs). These shares were acquired at no cost, reflecting the ongoing vesting schedule of his compensatory awards. Following these transactions, Das holds 91,163 shares in Pagaya (NASDAQ:PGY) Technologies. The company, which generated revenue of $970.9 million in the last twelve months with a gross profit margin of 41%, appears undervalued according to InvestingPro Fair Value metrics. Investors seeking deeper insights can access comprehensive analysis and additional ProTips through the detailed Pro Research Report available on InvestingPro. The company, which generated revenue of $970.9 million in the last twelve months with a gross profit margin of 41%, appears undervalued according to InvestingPro Fair Value metrics. Investors seeking deeper insights can access comprehensive analysis and additional ProTips through the detailed Pro Research Report available on InvestingPro.
Additionally, on January 16, 2025, Das acquired 22,917 Class A Ordinary Shares through the vesting of Restricted Stock Units (RSUs). These shares were acquired at no cost, reflecting the ongoing vesting schedule of his compensatory awards. Following these transactions, Das holds 91,163 shares in Pagaya Technologies.
In other recent news, Pagaya Technologies has reported strong financial results in their 3Q 2024 earnings call, with an annual revenue rate nearing $1 billion and an adjusted EBITDA of $220 million. The company also announced strategic plans to reach GAAP profitability by 2025, alongside significant growth in loans, customer acquisition, and partner relationships. Recent developments include the appointment of Cory Vieira as Chief Accounting Officer. Vieira brings a wealth of experience from his previous roles at BHG Financial, American Express (NYSE:AXP), and GE Capital.
UBS has resumed coverage on Pagaya Technologies, issuing a Neutral rating and seeking clarity on the trajectory of the company’s credit impairments. The firm highlighted the company’s potential for revenue growth, projecting a 14% compound annual growth rate from 2025 to 2027. Meanwhile, shareholders have approved significant amendments to the company’s Articles of Association, including the phased declassification of the board of directors and adjustments to executive officer employment terms and ownership thresholds. These are recent developments that have a potential impact on the company’s future.
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