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

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) 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 transaction, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Payoneer Global Trading Up 0.1 %

PAYO traded up $0.01 on Thursday, reaching $10.33. The stock had a trading volume of 2,998,314 shares, compared to its average volume of 2,736,243. The firm has a 50-day moving average of $8.21 and a 200-day moving average of $6.71. Payoneer Global Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $10.90. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 29.32 and a beta of 0.82.

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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.82% and a return on equity of 17.78%. The company's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. Sell-side analysts anticipate that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its stake in Payoneer Global by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company's stock worth $1,108,000 after purchasing an additional 2,958 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Payoneer Global by 1.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 160,551 shares of the company's stock valued at $780,000 after acquiring an additional 3,028 shares in the last quarter. Swiss National Bank grew its holdings in shares of Payoneer Global by 0.9% during the first quarter. Swiss National Bank now owns 535,700 shares of the company's stock worth $2,604,000 after purchasing an additional 4,800 shares in the last quarter. Sei Investments Co. raised its stake in Payoneer Global by 7.3% in the first quarter. Sei Investments Co. now owns 174,824 shares of the company's stock valued at $850,000 after purchasing an additional 11,907 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Payoneer Global by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 53,333 shares of the company's stock valued at $259,000 after buying an additional 3,730 shares in the last quarter. 82.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on PAYO shares. Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $9.00 to $12.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. 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. Cantor Fitzgerald upgraded shares of Payoneer Global to a "strong-buy" rating in a research report on Monday, August 12th. Northland Securities lifted their price objective on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Finally, Needham & Company LLC upped their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price 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.