Wellington Management Group LLP Sells 3,382,262 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Wellington Management Group LLP lowered its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 59.2% during the third quarter, Holdings Channel reports. 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’s holdings in Payoneer Global were worth $16,240,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in PAYO. Victory Capital Management Inc. grew its position in shares of Payoneer Global by 17.1% during the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after purchasing an additional 645,887 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Payoneer Global by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock valued at $17,599,000 after acquiring an additional 67,255 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Payoneer Global during the 3rd quarter worth $1,509,000. Quest Partners LLC bought a new position in shares of Payoneer Global in the third quarter worth $415,000. Finally, Great Lakes Advisors LLC raised 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 valued at $4,227,000 after purchasing an additional 482,590 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global 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 approximately $352,914,237.12. This represents a 17.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 in the company, valued at $1,829,904. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,826,275 shares of company stock worth $80,708,269. 5.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on PAYO shares. Keefe, Bruyette & Woods lowered shares of Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 target price on the stock. in a report on Monday, December 9th. The Goldman Sachs Group boosted their price target on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Northland Securities lifted their target price on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Benchmark boosted their target price 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, Needham & Company LLC raised their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $11.36.

Payoneer Global Stock Down 0.3 %

Shares of PAYO stock opened at $10.28 on Friday. The firm has a market capitalization of $3.67 billion, a P/E ratio of 29.37 and a beta of 0.90. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $11.29. The stock’s fifty day simple moving average is $9.61 and its 200 day simple moving average is $7.48.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data 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. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.35 EPS for the current fiscal year.

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.