Geode Capital Management LLC Acquires 156,252 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Geode Capital Management LLC raised its position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,777,377 shares of the company's stock after buying an additional 156,252 shares during the quarter. Geode Capital Management LLC owned 1.90% of Payoneer Global worth $68,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock worth $54,000 after purchasing an additional 940 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Payoneer Global by 1.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company's stock worth $868,000 after purchasing an additional 1,002 shares during the last quarter. Fifth Third Bancorp increased its holdings in Payoneer Global by 29.3% in the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock valued at $45,000 after purchasing an additional 1,016 shares during the period. State of Alaska Department of Revenue raised its position in Payoneer Global by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company's stock worth $1,465,000 after purchasing an additional 1,498 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Payoneer Global by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 124,100 shares of the company's stock worth $1,246,000 after buying an additional 1,700 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Payoneer Global from $10.00 to $8.00 and set a "market perform" rating for the company in a research report on Monday, March 31st. Citigroup increased their price target on Payoneer Global from $14.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. The Goldman Sachs Group dropped their price objective on Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research note on Monday, February 3rd. They set a "buy" rating and a $13.00 target price for the company. Finally, Wolfe Research lowered Payoneer Global from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.36.

Payoneer Global Stock Performance

NASDAQ:PAYO traded down $0.05 on Friday, hitting $6.36. The stock had a trading volume of 2,503,616 shares, compared to its average volume of 3,024,381. Payoneer Global Inc. has a 1 year low of $4.79 and a 1 year high of $11.29. The firm's fifty day simple moving average is $7.92 and its two-hundred day simple moving average is $9.18. The stock has a market cap of $2.29 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $261.74 million for the quarter, compared to the consensus estimate of $242.14 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Equities research analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, CFO Beatrice Ordonez sold 85,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now directly owns 2,305,245 shares in the company, valued at $23,974,548. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.57% of the stock is owned by corporate insiders.

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.