Principal Financial Group Inc. Sells 62,307 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Principal Financial Group Inc. trimmed its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,462,768 shares of the company’s stock after selling 62,307 shares during the quarter. Principal Financial Group Inc.’s holdings in Payoneer Global were worth $11,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis bought a new position in shares of Payoneer Global during the 1st quarter valued at $3,106,000. Janus Henderson Group PLC raised its holdings in Payoneer Global by 131.6% in the 1st quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock worth $1,744,000 after purchasing an additional 203,943 shares during the period. Tidal Investments LLC bought a new position in Payoneer Global in the 1st quarter worth $986,000. Victory Capital Management Inc. raised its holdings in Payoneer Global by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after purchasing an additional 645,887 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Payoneer Global by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock worth $259,000 after purchasing an additional 3,730 shares during the period. 82.22% of the stock is owned by institutional investors.

Payoneer Global Stock Performance

Shares of PAYO stock opened at $10.37 on Monday. The stock has a fifty day simple moving average of $8.34 and a two-hundred day simple moving average of $6.80. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $10.90. The firm has a market capitalization of $3.96 billion, a PE ratio of 29.63 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue was up 19.4% on a year-over-year basis. On average, sell-side analysts forecast that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In related news, Director Scott H. Galit sold 150,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the transaction, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This trade represents a 7.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the transaction, the insider now directly owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,658,000 shares of company stock valued at $78,524,500 in the last 90 days. Insiders own 5.57% of the company’s stock.

Analyst Ratings Changes

PAYO has been the topic of a number of recent research reports. Benchmark raised their target price on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Citigroup increased their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Northland Securities increased their price target on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $10.79.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.