Payoneer Global Inc. (NASDAQ:PAYO) Stock Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,462,768 shares of the company's stock after selling 62,307 shares during the period. Principal Financial Group Inc. owned 0.38% of Payoneer Global worth $11,015,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. AXA S.A. boosted its holdings in shares of Payoneer Global by 1,394.5% in the 2nd 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 during the last quarter. Millennium Management LLC boosted its holdings in Payoneer Global by 17.3% in the second quarter. Millennium Management LLC now owns 6,764,016 shares of the company's stock valued at $37,473,000 after acquiring an additional 995,366 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Payoneer Global by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company's stock valued at $23,283,000 after acquiring an additional 178,842 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Payoneer Global by 22.7% during the second 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 during the period. Finally, Victory Capital Management Inc. increased its stake in Payoneer Global by 17.1% during the second 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. 82.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares of the company's stock, valued at $12,794,395.18. This trade represents a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now directly owns 34,197,116 shares of the company's stock, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,658,000 shares of company stock worth $78,524,500. 5.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of Payoneer Global to a "strong-buy" rating in a research report on Monday, August 12th. Needham & Company LLC increased their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Northland Securities lifted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Citigroup increased their price target on Payoneer Global from $7.00 to $8.50 and gave the company a "buy" rating in a report on Monday, August 12th. Finally, Benchmark boosted their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a "buy" rating in a research note 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, Payoneer Global presently has a consensus rating of "Buy" and an average price target of $10.79.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO traded up $0.27 during midday trading on Monday, reaching $10.64. 3,866,890 shares of the company's stock were exchanged, compared to its average volume of 2,743,353. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $10.90. The business's fifty day moving average price is $8.34 and its two-hundred day moving average price is $6.80. The stock has a market capitalization of $4.06 billion, a PE ratio of 30.69 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $248.30 million for 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%. Payoneer Global's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Analysts predict 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.