Prajnaparamita denotes the highest wisdom of Buddha, the path that leads to that wisdom, as well as the instructional texts describing the spiritual training required. The deity personifies all of this at once.
Seated figures are rare; compare with a smaller figure in the National Museum of Cambodia, Phnom Penh, see H. Jessup and T. Zéphir (eds.), Sculpture of Angkor and Ancient Cambodia, Millenium of Glory, 1997, cat. no. 104, p. 321.