In a recent transaction filing with the Securities and Exchange Commission, Evangelos Perros, chief financial officer of Pagaya (NASDAQ:) Technologies Ltd. (NASDAQ:PGY), sold a significant portion of its shares. On January 2, 2025, Perros sold 21,305 shares of Class A common stock at a price of $9.97 each, for a total of approximately $212,410. This sale was necessary to satisfy withholding tax obligations arising from the quarterly vesting of the compensatory award. The stock, currently trading at $10.41, has shown significant momentum with a return of 7.9% over the past week, according to InvestingPro data.
Previously, on January 1, 2025, Perros acquired a total of 49,712 Class A common shares at no cost as a result of the vesting of restricted stock units. After these transactions, Perros directly holds 54,029 shares. The company, which has shown strong revenue growth of 23.4% over the last twelve months, currently appears undervalued based on InvestingProFair value analysis. Investors can access detailed valuation metrics and 7 additional expert tips through InvestingPro’s comprehensive research platform.
In other recent news, Pagaya Technologies reported strong financial results in its Q3 2024 earnings call, projecting an annual revenue run rate of close to $1 billion and adjusted EBITDA of $220 million. The company also announced strategic plans to achieve GAAP profitability by 2025, with significant growth in loans, customer acquisitions and partnerships. In addition, Pagaya Technologies shareholders approved significant changes to the company’s corporate structure, including the gradual declassification of the board of directors and amendments related to the hiring of executive officers.
UBS continued to cover Pagaya Technologies, issuing a Neutral rating seeking clarity on the company’s credit impairment trajectory. Meanwhile, the company named Cory Vieira as chief accounting officer, a move expected to play a key role as the company targets profitability in 2024.
These are recent events that investors should be aware of as they reflect on Pagaya Technologies’ financial performance and strategic initiatives.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
