Payoneer Global Inc. (NASDAQ:PAYO) Insider Sells $77,400,000.00 in Stock

Payoneer Global Inc. (NASDAQ:PAYO) insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the sale, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Payoneer Global Stock Up 0.4 %

PAYO stock opened at $10.37 on Friday. The stock has a market capitalization of $3.96 billion, a PE ratio of 29.63 and a beta of 0.82. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $10.90. The firm has a 50 day moving average of $8.34 and a 200 day moving average of $6.77.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.04 by $0.07. The business had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, equities research analysts expect that Payoneer Global Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Payoneer Global

Several institutional investors and hedge funds have recently bought and sold shares of PAYO. AXA S.A. grew its position in Payoneer Global by 1,394.5% during the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after purchasing an additional 13,227,884 shares during the period. Azora Capital LP acquired a new stake in Payoneer Global during the third quarter worth about $31,901,000. Legion Partners Asset Management LLC acquired a new stake in shares of Payoneer Global during the 2nd quarter worth approximately $12,360,000. American Century Companies Inc. increased its holdings in Payoneer Global by 241.5% in the second quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock valued at $9,106,000 after buying an additional 1,162,481 shares in the last quarter. Finally, Shell Asset Management Co. purchased a new stake in shares of Payoneer Global during the 1st quarter worth about $5,360,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAYO. Needham & Company LLC boosted their target price on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Citigroup boosted their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th. Benchmark increased their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lifted their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $10.79.

Payoneer Global Company Profile

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.