Payoneer Global Inc. (NASDAQ: PAYO – Get a rating) fell ahead of Thursday’s trading following insider selling activity. The stock had previously closed at $6.76, but opened at $6.58. Shares of Payoneer Global last traded at $6.74, with a volume of 18,208 shares traded in hands.
Specifically, insider Tsafi Goldman sold 17,997 shares of Payoneer Global in a trade on Tuesday, August 16. The shares were sold at an average price of $6.80, for a total transaction of $122,379.60. Following the completion of the sale, the insider now owns 321,203 shares of the company, valued at approximately $2,184,180.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. In other Payoneer Global news, insider Tsafi Goldman sold 17,997 shares of Payoneer Global in a trade on Tuesday, August 16. The shares were sold at an average price of $6.80, for a total transaction of $122,379.60. Following the completion of the sale, the insider now owns 321,203 shares of the company, valued at approximately $2,184,180.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. Additionally, Chief Financial Officer Michael G. Levine sold 36,965 shares of Payoneer Global in a trade on Tuesday, August 16. The shares were sold at an average price of $6.80, for a total transaction of $251,362.00. Following the sale, the CFO now directly owns 1,178,854 shares of the company, valued at approximately $8,016,207.20. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 265,837 shares of the company valued at $1,644,438. Insiders of the company own 6.48% of the shares of the company.
Changes to analyst ratings
PAYO has been the subject of several research reports. Goldman Sachs Group raised its price target on Payoneer Global shares to $8.50 in a Monday, August 15 research note. Citigroup raised its price target on shares of Payoneer Global to $9.00 in a Monday, August 15 report. Needham & Company LLC raised its price target on Payoneer Global shares from $7.00 to $9.00 and gave the company a “buy” rating in a Friday, August 12 report. Finally, Northland Securities cut its price target on Payoneer Global shares from $14.00 to $9.00 in a Friday, May 13 report.
Payoneer global shares down 4.9%
The company has a market capitalization of $2.18 billion, a P/E ratio of 635.00 and a beta of 1.30. The company’s fifty-day moving average price is $5.03 and its two-hundred-day moving average price is $4.74. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt ratio of 0.03.
Global Payoneer (NASDAQ: PAYO – Get a rating) last announced its results on Thursday, August 11. The company reported EPS of $0.01 for the quarter, beating the consensus estimate of ($0.06) by $0.07. The company posted revenue of $148.19 million for the quarter, versus a consensus estimate of $131.48 million. Payoneer Global had a net margin of 1.20% and a negative return on equity of 10.61%. The company’s quarterly revenue increased 33.6% year over year. During the same quarter last year, the company posted ($0.77) EPS. As a group, equity research analysts expect Payoneer Global Inc. to post year-to-date EPS of -0.03.
Institutional entries and exits
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Payoneer Global by 191.4% in Q1. Vanguard Group Inc. now owns 25,792,530 shares of the company worth $115,035,000 after acquiring an additional 16,940,356 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Payoneer Global by 9.7% in Q2. Price T Rowe Associates Inc. MD now owns 15,601,619 shares of the company worth $61,158,000 after acquiring an additional 1,383,186 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Payoneer Global by 2.8% in Q1. Massachusetts Financial Services Co. MA now owns 5,732,594 shares of the company worth $25,567,000 after acquiring an additional 157,281 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in Payoneer Global in Q1 valued at $20,336,000. Finally, State Street Corp increased its position in Payoneer Global by 237.9% in the 2nd quarter. State Street Corp now owns 4,347,077 shares of the company worth $17,041,000 after purchasing an additional 3,060,598 shares in the last quarter. Institutional investors hold 66.30% of the company’s shares.
Payoneer Global Company Profile
Payoneer Global Inc operates a payment and commerce platform that facilitates online marketplaces, platforms and merchants worldwide. It offers a suite of services that includes cross-border payments, B2B accounts payable/receivable, multi-currency accounts, physical and virtual Mastercard, working capital, merchant, tax, compliance and risk, and more.
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