CIBC Asset Management Inc Sells 9,401 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

CIBC Asset Management Inc decreased its position in Payoneer Global Inc. (NASDAQ:PAYO) by 44.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,647 shares of the company’s stock after selling 9,401 shares during the period. CIBC Asset Management Inc’s holdings in Payoneer Global were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Azora Capital LP bought a new position in Payoneer Global in the 3rd quarter worth about $31,901,000. Charles Schwab Investment Management Inc. boosted its stake 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 worth $17,599,000 after purchasing an additional 67,255 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Payoneer Global by 5.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,549,388 shares of the company’s stock worth $15,556,000 after purchasing an additional 86,620 shares in the last quarter. FMR LLC lifted its stake in Payoneer Global by 17.2% during the 3rd quarter. FMR LLC now owns 1,129,312 shares of the company’s stock valued at $8,504,000 after acquiring an additional 165,913 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Payoneer Global by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 881,026 shares of the company’s stock valued at $8,951,000 after acquiring an additional 41,106 shares during the period. Institutional investors own 82.22% of the company’s stock.

Analyst Ratings Changes

PAYO has been the topic of several research analyst reports. Northland Securities upped their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Benchmark upped their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup upped their target price on shares of Payoneer Global from $8.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group upped 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. Two investment analysts have rated the stock with a hold rating, six 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 “Moderate Buy” and an average target price of $12.00.

Insider Transactions at Payoneer Global

In other news, CFO Beatrice Ordonez sold 85,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares in the company, valued at $23,974,548. This represents a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tsafi Goldman sold 96,350 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total transaction of $970,244.50. Following the completion of the sale, the insider now directly owns 741,748 shares of the company’s stock, valued at $7,469,402.36. This represents a 11.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 445,223 shares of company stock worth $4,519,362 in the last quarter. Company insiders own 5.57% of the company’s stock.

Payoneer Global Stock Up 2.3 %

Shares of NASDAQ:PAYO opened at $10.18 on Thursday. The firm’s 50 day moving average price is $10.33 and its 200-day moving average price is $9.23. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $11.29. The stock has a market capitalization of $3.63 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.93.

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.