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

Geode Capital Management LLC reduced its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,621,125 shares of the company’s stock after selling 44,473 shares during the period. Geode Capital Management LLC’s holdings in Payoneer Global were worth $49,866,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AXA S.A. raised its stake in 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 buying an additional 13,227,884 shares in the last quarter. Millennium Management LLC increased its holdings in shares of 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 acquiring an additional 995,366 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Payoneer Global by 22.7% during 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 in the last quarter. Victory Capital Management Inc. lifted 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 last quarter. Finally, Azora Capital LP acquired a new position in Payoneer Global in the third quarter valued at approximately $31,901,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Insider Activity at Payoneer Global

In other news, insider Tsafi Goldman sold 263,873 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total value of $2,665,117.30. Following the completion of the sale, the insider now directly owns 741,748 shares of the company’s stock, valued at $7,491,654.80. This trade represents a 26.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the insider now owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This trade represents a 17.99 % 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 three months. Insiders own 5.57% of the company’s stock.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $10.12 on Monday. Payoneer Global Inc. has a one year low of $4.22 and a one year high of $11.29. The firm has a market cap of $3.61 billion, a PE ratio of 28.92 and a beta of 0.90. The firm’s fifty day moving average is $9.85 and its two-hundred day moving average is $7.63.

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

Analysts Set New Price Targets

A number of analysts have weighed in on PAYO shares. Keefe, Bruyette & Woods cut shares of Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price objective on the stock. in a report on Monday, December 9th. Needham & Company LLC lifted their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Northland Securities upped their price objective 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. Benchmark raised their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Payoneer Global has an average rating of “Buy” and a consensus target price of $11.36.

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.