Principal Financial Group Inc. Cuts Position in Payoneer Global Inc. (NASDAQ:PAYO)

Principal Financial Group Inc. reduced its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,462,768 shares of the company’s stock after selling 62,307 shares during the quarter. Principal Financial Group Inc.’s holdings in Payoneer Global were worth $11,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of Payoneer Global by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,971,622 shares of the company’s stock worth $10,923,000 after buying an additional 33,063 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Payoneer Global by 7.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,534 shares of the company’s stock worth $385,000 after purchasing an additional 4,738 shares during the last quarter. Van ECK Associates Corp lifted its stake in Payoneer Global by 4.3% in the 2nd quarter. Van ECK Associates Corp now owns 82,903 shares of the company’s stock valued at $459,000 after buying an additional 3,444 shares in the last quarter. CIBC Asset Management Inc increased its position in Payoneer Global by 17.3% during the second quarter. CIBC Asset Management Inc now owns 21,096 shares of the company’s stock worth $117,000 after buying an additional 3,117 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Payoneer Global by 2.7% in the second quarter. Rhumbline Advisers now owns 768,335 shares of the company’s stock worth $4,257,000 after acquiring an additional 20,297 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Trading Down 2.0 %

Shares of Payoneer Global stock opened at $10.01 on Monday. The company has a fifty day moving average price of $10.05 and a 200 day moving average price of $7.78. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $11.29. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 28.60 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. Analysts forecast that Payoneer Global Inc. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

PAYO has been the subject of several analyst reports. Benchmark boosted 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. Northland Securities raised their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC increased their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods downgraded Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 target price on the stock. in a research report on Monday, December 9th. One research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $11.36.

Insider Transactions at Payoneer Global

In related news, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were 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 owns 228,738 shares of the company’s stock, valued at $1,829,904. This represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of Payoneer Global stock in a transaction that occurred 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 completion of the transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,826,275 shares of company stock valued at $80,708,269. Insiders own 5.57% of the company’s stock.

Payoneer Global Company 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.