Wellington Management Group LLP Trims Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Wellington Management Group LLP trimmed its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 59.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,331,189 shares of the company's stock after selling 3,382,262 shares during the period. Wellington Management Group LLP owned 0.61% of Payoneer Global worth $16,240,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in Payoneer Global by 993.8% during the second quarter. SG Americas Securities LLC now owns 169,184 shares of the company's stock valued at $937,000 after purchasing an additional 153,716 shares during the period. Bank of New York Mellon Corp lifted its position in Payoneer Global by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,971,622 shares of the company's stock worth $10,923,000 after buying an additional 33,063 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Payoneer Global by 7.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,534 shares of the company's stock worth $385,000 after buying an additional 4,738 shares during the period. Sage Rhino Capital LLC purchased a new position in Payoneer Global during the second quarter worth $56,000. Finally, Van ECK Associates Corp increased its position in Payoneer Global by 4.3% during the second quarter. Van ECK Associates Corp now owns 82,903 shares of the company's stock valued at $459,000 after acquiring an additional 3,444 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

Payoneer Global Stock Performance

NASDAQ PAYO traded down $0.03 on Friday, reaching $10.28. 1,469,533 shares of the stock traded hands, compared to its average volume of 2,751,100. Payoneer Global Inc. has a 12 month low of $4.22 and a 12 month high of $11.29. The company has a fifty day moving average price of $9.61 and a 200-day moving average price of $7.48. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 29.37 and a beta of 0.90.

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, topping analysts' consensus estimates 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 net margin of 13.82% and a return on equity of 17.78%. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. As a group, research analysts anticipate that Payoneer Global Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tsafi Goldman sold 263,873 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were 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 approximately $7,491,654.80. This trade represents a 26.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the insider now owns 34,197,116 shares of the company's stock, valued at approximately $352,914,237.12. This trade represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,826,275 shares of company stock worth $80,708,269. Corporate insiders own 5.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Northland Securities lifted their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods lowered Payoneer Global from an "outperform" rating to a "market perform" rating and set a $12.00 target price for the company. in a research report 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 research note on Wednesday, November 6th. Benchmark raised their price target on Payoneer Global from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their target price on Payoneer Global from $9.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $11.36.

Payoneer Global 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.