Charles Schwab Investment Management Inc. Buys 67,255 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Charles Schwab Investment Management Inc. lifted its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 3.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,337,156 shares of the company's stock after acquiring an additional 67,255 shares during the period. Charles Schwab Investment Management Inc. owned 0.61% of Payoneer Global worth $17,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Payoneer Global in the second quarter worth about $29,000. Blue Trust Inc. increased its position in Payoneer Global by 135.2% in the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock worth $33,000 after buying an additional 2,552 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Payoneer Global by 438.5% during the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company's stock worth $44,000 after buying an additional 4,736 shares during the last quarter. Sage Rhino Capital LLC bought a new stake in shares of Payoneer Global in the second quarter valued at approximately $56,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Payoneer Global in the third quarter worth $68,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Itai Perry sold 4,100 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total transaction of $32,800.00. Following the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a 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 on 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 sale, the insider now owns 34,197,116 shares of the company's stock, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,562,402 shares of company stock valued at $78,043,152 in the last three months. 5.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PAYO shares. Keefe, Bruyette & Woods increased their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on Payoneer Global from $9.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Northland Securities lifted their price objective on Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday. Benchmark raised their target price on Payoneer Global from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Citigroup boosted their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the company a "buy" rating in a report on Monday, August 12th. Six equities research 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.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $11.36.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO traded up $0.16 during midday trading on Friday, reaching $10.95. 3,134,966 shares of the company traded hands, compared to its average volume of 3,387,462. The firm has a market cap of $3.90 billion, a PE ratio of 31.29 and a beta of 0.90. The stock's 50-day simple moving average is $9.35 and its 200-day simple moving average is $7.34. Payoneer Global Inc. has a 12 month low of $4.22 and a 12 month high of $11.29.

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

Payoneer Global 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.