Payoneer Global Inc. (NASDAQ:PAYO) Shares Sold by Technology Crossover Management VIII Ltd.

Technology Crossover Management VIII Ltd. lowered its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,197,116 shares of the company's stock after selling 7,499,999 shares during the quarter. Payoneer Global comprises approximately 59.1% of Technology Crossover Management VIII Ltd.'s holdings, making the stock its largest holding. Technology Crossover Management VIII Ltd. owned 9.59% of Payoneer Global worth $343,339,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of Payoneer Global by 405.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock worth $38,000 after purchasing an additional 3,064 shares during the period. Fifth Third Bancorp raised its holdings in Payoneer Global by 29.3% during the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock worth $45,000 after buying an additional 1,016 shares during the period. Blue Trust Inc. raised its holdings in Payoneer Global by 21.2% during the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock worth $54,000 after buying an additional 940 shares during the period. GAMMA Investing LLC lifted its stake in Payoneer Global by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company's stock valued at $83,000 after buying an additional 2,425 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of Payoneer Global in the fourth quarter valued at approximately $105,000. 82.22% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wolfe Research cut shares of Payoneer Global from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Citigroup upped their price objective on Payoneer Global from $14.50 to $16.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research report on Monday, February 3rd. They issued a "buy" rating and a $13.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Payoneer Global from $11.00 to $10.00 and set a "market perform" rating for the company in a research note on Friday, February 28th. Finally, Northland Securities boosted their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.07.

Payoneer Global Stock Down 2.4 %

Shares of NASDAQ PAYO traded down $0.18 during trading hours on Friday, hitting $7.25. The company had a trading volume of 1,745,689 shares, compared to its average volume of 2,887,311. Payoneer Global Inc. has a 1-year low of $4.69 and a 1-year high of $11.29. The firm's 50 day moving average is $9.21 and its 200-day moving average is $9.30. The stock has a market capitalization of $2.61 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly 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 firm had revenue of $261.74 million during the quarter, compared to analyst estimates of $242.14 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. During the same quarter in the prior year, the business earned $0.05 EPS. On average, sell-side analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value 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. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tsafi Goldman sold 96,350 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total transaction of $970,244.50. Following the completion of the transaction, the insider now owns 741,748 shares in the company, valued at approximately $7,469,402.36. This trade represents a 11.50 % decrease in their position. The disclosure for this sale can be found here. 5.57% of the stock is currently owned by corporate insiders.

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.