Jacobs Levy Equity Management Inc. Sells 269,298 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Jacobs Levy Equity Management Inc. reduced its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,073,520 shares of the company's stock after selling 269,298 shares during the period. Jacobs Levy Equity Management Inc. owned 0.80% of Payoneer Global worth $23,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Payoneer Global by 135.2% in the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock valued at $33,000 after buying an additional 2,552 shares during the last quarter. Quarry LP acquired a new position in shares of Payoneer Global during the 2nd quarter worth about $29,000. GAMMA Investing LLC increased its stake in shares of Payoneer Global by 438.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company's stock worth $44,000 after purchasing an additional 4,736 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Payoneer Global during the 3rd quarter worth about $68,000. Finally, Sage Rhino Capital LLC acquired a new position in shares of Payoneer Global during the 2nd quarter worth about $56,000. 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 3,900 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the transaction, the chief accounting officer now owns 228,738 shares of the company's stock, valued at approximately $1,829,904. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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. Over the last 90 days, insiders have sold 7,562,402 shares of company stock valued at $78,043,152. Company insiders own 5.57% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAYO. Needham & Company LLC boosted their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Northland Securities lifted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, Benchmark lifted their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $10.79.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO traded down $0.06 during trading on Thursday, reaching $10.79. The stock had a trading volume of 1,858,078 shares, compared to its average volume of 2,751,184. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 31.00 and a beta of 0.90. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $11.29. The firm's fifty day moving average is $9.22 and its 200 day moving average is $7.27.

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

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.