Cubist Systematic Strategies LLC Buys 264,978 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Cubist Systematic Strategies LLC grew its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 108.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 509,003 shares of the company’s stock after buying an additional 264,978 shares during the period. Cubist Systematic Strategies LLC owned 0.14% of Payoneer Global worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PAYO. Natixis bought a new position in Payoneer Global during the 1st quarter worth approximately $3,106,000. Tidal Investments LLC bought a new position in shares of Payoneer Global in the 1st quarter worth about $986,000. Janus Henderson Group PLC boosted its position in shares of Payoneer Global by 131.6% during the 1st quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock valued at $1,744,000 after purchasing an additional 203,943 shares in the last quarter. Victory Capital Management Inc. grew its stake in Payoneer Global by 17.1% during the second 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 during the period. Finally, ProShare Advisors LLC increased its holdings in Payoneer Global by 7.5% in the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock worth $259,000 after purchasing an additional 3,730 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Payoneer Global news, CAO Itai Perry sold 3,900 shares of Payoneer Global stock in a transaction that occurred 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 of the company’s stock, valued at $1,829,904. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at $1,829,904. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now owns 1,809,674 shares in the company, valued at $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,501 shares of company stock valued at $1,150,218. Corporate insiders own 5.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Benchmark reissued a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a research report on Thursday, August 8th. Citigroup raised their target price on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Needham & Company LLC upped their price target on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $8.64.

Payoneer Global Stock Performance

PAYO stock opened at $7.89 on Friday. The business has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $6.04. The company has a market capitalization of $2.95 billion, a P/E ratio of 26.30 and a beta of 0.85. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $8.01.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. Payoneer Global’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. As a group, sell-side analysts forecast that Payoneer Global Inc. will post 0.25 earnings per share 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.