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

Principal Financial Group Inc. lessened its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,462,768 shares of the company's stock after selling 62,307 shares during the quarter. Principal Financial Group Inc. owned 0.41% of Payoneer Global worth $11,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. AXA S.A. lifted its holdings in shares of Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company's stock valued at $78,538,000 after purchasing an additional 13,227,884 shares in the last quarter. Millennium Management LLC raised its position in Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company's stock valued at $37,473,000 after buying an additional 995,366 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Payoneer Global by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company's stock valued at $25,446,000 after acquiring an additional 849,680 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Payoneer Global by 17.1% during the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company's stock worth $24,475,000 after acquiring an additional 645,887 shares during the last quarter. Finally, Azora Capital LP bought a new stake in shares of Payoneer Global in the 3rd quarter worth $31,901,000. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Stock Performance

Shares of PAYO remained flat at $10.01 during mid-day trading on Monday. The company's stock had a trading volume of 1,952,107 shares, compared to its average volume of 2,754,555. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $11.29. The stock's 50 day moving average price is $10.05 and its two-hundred day moving average price is $7.79. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 28.60 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. As a group, research analysts predict that Payoneer Global Inc. will post 0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods downgraded Payoneer Global from an "outperform" rating to a "market perform" rating and set a $12.00 target price on the stock. in a research note on Monday, December 9th. Needham & Company LLC upped their target price on Payoneer Global from $10.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Benchmark lifted their price target on Payoneer Global from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, Northland Securities upped their price objective on Payoneer Global from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Payoneer Global has an average rating of "Buy" and a consensus target price of $11.36.

Insider Activity at Payoneer Global

In related news, insider Crossover Managemen Technology sold 7,500,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the sale, the insider now directly owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tsafi Goldman sold 263,873 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total value of $2,665,117.30. Following the sale, the insider now directly owns 741,748 shares in the company, valued at $7,491,654.80. This trade represents a 26.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,826,275 shares of company stock worth $80,708,269. 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.