Payoneer Global Inc. (NASDAQ:PAYO) Shares Bought by State Street Corp

State Street Corp grew its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,482,125 shares of the company’s stock after purchasing an additional 18,058 shares during the period. State Street Corp owned 2.75% of Payoneer Global worth $78,930,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAYO. Victory Capital Management Inc. raised its holdings in Payoneer Global by 17.1% in the 2nd 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in Payoneer Global by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock valued at $17,599,000 after purchasing an additional 67,255 shares during the last quarter. Quest Partners LLC purchased a new position in Payoneer Global during the third quarter worth about $415,000. Wedge Capital Management L L P NC acquired a new stake in Payoneer Global in the 3rd quarter worth about $1,509,000. Finally, Great Lakes Advisors LLC grew its holdings in Payoneer Global by 172.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 763,037 shares of the company’s stock valued at $4,227,000 after buying an additional 482,590 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a research note on Monday, December 9th. Northland Securities boosted their target price on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. 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 report on Wednesday, November 6th. Benchmark boosted their price objective on shares of 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 raised their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Payoneer Global currently has a consensus rating of “Buy” and an average price target of $11.36.

Payoneer Global Stock Down 1.7 %

PAYO opened at $10.27 on Wednesday. The firm’s 50 day moving average is $9.72 and its 200-day moving average is $7.56. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $11.29. The firm has a market capitalization of $3.66 billion, a P/E ratio of 29.34 and a beta of 0.90.

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

Insider Activity at Payoneer Global

In related news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction 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 sale, the insider now directly 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 accessible through this link. Also, CAO Itai Perry sold 3,900 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,826,275 shares of company stock valued at $80,708,269. Insiders own 5.57% of the company’s stock.

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.