Insider Selling: Payoneer Global Inc. (NASDAQ:PAYO) Director Sells 355,717 Shares of Stock

Payoneer Global Inc. (NASDAQ:PAYO) Director Scott H. Galit sold 355,717 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $4.71, for a total value of $1,675,427.07. Following the completion of the transaction, the director now owns 3,127,981 shares in the company, valued at approximately $14,732,790.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Payoneer Global Stock Performance

PAYO stock traded up $0.17 during trading on Wednesday, hitting $4.89. The company had a trading volume of 2,103,910 shares, compared to its average volume of 2,688,501. The firm has a market cap of $1.80 billion, a PE ratio of 20.38 and a beta of 0.81. Payoneer Global Inc. has a 1-year low of $4.02 and a 1-year high of $6.48. The firm has a 50-day moving average price of $4.87 and a 200-day moving average price of $5.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. The company had revenue of $224.32 million for the quarter, compared to analysts’ expectations of $223.65 million. On average, analysts expect that Payoneer Global Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Payoneer Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Payoneer Global by 10.9% in the 1st quarter. JPMorgan Chase & Co. now owns 59,049 shares of the company’s stock worth $263,000 after acquiring an additional 5,804 shares during the period. Citigroup Inc. increased its holdings in shares of Payoneer Global by 397.7% during the 1st quarter. Citigroup Inc. now owns 908,623 shares of the company’s stock worth $4,053,000 after buying an additional 726,070 shares during the last quarter. Vanguard Group Inc. increased its holdings in Payoneer Global by 191.4% in the 1st quarter. Vanguard Group Inc. now owns 25,792,530 shares of the company’s stock valued at $115,035,000 after purchasing an additional 16,940,356 shares in the last quarter. XTX Topco Ltd acquired a new stake in Payoneer Global in the 1st quarter valued at $54,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Payoneer Global by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 966,041 shares of the company’s stock valued at $4,309,000 after purchasing an additional 24,110 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PAYO. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Payoneer Global in a research report on Wednesday, February 28th. Citigroup dropped their price objective on Payoneer Global from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Keefe, Bruyette & Woods lowered their target price on Payoneer Global from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. The Goldman Sachs Group lowered their target price on Payoneer Global from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $7.00 price target on shares of Payoneer Global in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $6.71.

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.