Walleye Capital LLC Sells 247,271 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Walleye Capital LLC decreased its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 61.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 156,219 shares of the company’s stock after selling 247,271 shares during the quarter. Walleye Capital LLC’s holdings in Payoneer Global were worth $1,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PAYO. Victory Capital Management Inc. raised its stake in shares of Payoneer Global by 17.1% in the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock valued at $24,475,000 after acquiring an additional 645,887 shares during the period. Wedge Capital Management L L P NC bought a new position in Payoneer Global during the 3rd quarter valued at about $1,509,000. Quest Partners LLC purchased a new stake in Payoneer Global in the 3rd quarter worth about $415,000. Great Lakes Advisors LLC lifted its stake in Payoneer Global by 172.1% in the second quarter. Great Lakes Advisors LLC now owns 763,037 shares of the company’s stock worth $4,227,000 after purchasing an additional 482,590 shares during the last quarter. Finally, AXA S.A. boosted its position in shares of Payoneer Global by 1,394.5% during the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after buying an additional 13,227,884 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $10.79 on Friday. The company has a market cap of $3.85 billion, a PE ratio of 30.83 and a beta of 0.90. The firm’s 50 day moving average price is $9.22 and its 200-day moving average price is $7.27. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The business had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. On average, analysts forecast that Payoneer Global Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PAYO shares. Citigroup boosted their price objective on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Needham & Company LLC upped their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price target 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 company a “buy” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $10.79.

Insider Buying and Selling at Payoneer Global

In related news, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Itai Perry sold 52,829 shares of Payoneer Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.64, for a total transaction of $562,100.56. Following the completion of the transaction, the chief accounting officer now directly owns 201,882 shares in the company, valued at $2,148,024.48. This represents a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,562,402 shares of company stock worth $78,043,152 over the last quarter. Insiders own 5.57% of the company’s stock.

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.