Geode Capital Management LLC Reduces Position in Payoneer Global Inc. (NASDAQ:PAYO)

Geode Capital Management LLC trimmed its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,621,125 shares of the company’s stock after selling 44,473 shares during the quarter. Geode Capital Management LLC owned about 1.73% of Payoneer Global worth $49,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AXA S.A. increased its holdings in shares of Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after purchasing an additional 13,227,884 shares during the last quarter. Millennium Management LLC grew its holdings in Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock valued at $37,473,000 after buying an additional 995,366 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Payoneer Global by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock worth $25,446,000 after acquiring an additional 849,680 shares during the last quarter. Victory Capital Management Inc. boosted 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 valued at $24,475,000 after acquiring an additional 645,887 shares during the last quarter. Finally, Azora Capital LP acquired a new position in shares of Payoneer Global during the 3rd quarter valued at about $31,901,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Tsafi Goldman sold 263,873 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the sale, the insider now owns 741,748 shares of the company’s stock, valued at approximately $7,491,654.80. This represents a 26.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Itai Perry sold 52,829 shares of Payoneer Global stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.64, for a total value of $562,100.56. Following the completion of the transaction, the chief accounting officer now owns 201,882 shares of the company’s stock, valued at approximately $2,148,024.48. This trade represents a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,826,275 shares of company stock worth $80,708,269 in the last ninety days. 5.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on PAYO shares. Keefe, Bruyette & Woods downgraded 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 research note on Monday, December 9th. The Goldman Sachs Group upped their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Benchmark raised 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. Needham & Company LLC upped their price target on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Northland Securities raised their price objective on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $11.36.

Payoneer Global Trading Up 0.5 %

Shares of NASDAQ PAYO opened at $10.12 on Monday. The stock has a market capitalization of $3.61 billion, a PE ratio of 28.92 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 has a fifty day simple moving average of $9.85 and a 200-day simple moving average of $7.63.

Payoneer Global (NASDAQ:PAYO) last issued 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. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s quarterly revenue was up 19.4% on a year-over-year basis. On average, equities analysts predict that Payoneer Global Inc. will post 0.35 earnings per share for the current 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.