Point72 Asset Management L.P. Reduces Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Point72 Asset Management L.P. trimmed its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 64.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,281 shares of the company’s stock after selling 248,583 shares during the period. Point72 Asset Management L.P.’s holdings in Payoneer Global were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAYO. AXA S.A. grew its position in shares of 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 purchasing an additional 13,227,884 shares in the last quarter. Azora Capital LP purchased a new position in Payoneer Global during the 3rd quarter valued at about $31,901,000. Legion Partners Asset Management LLC bought a new stake in shares of Payoneer Global during the second quarter valued at about $12,360,000. American Century Companies Inc. lifted its holdings in shares of Payoneer Global by 241.5% in the second quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock worth $9,106,000 after buying an additional 1,162,481 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Payoneer Global by 17.3% in the second 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 period. Institutional investors own 82.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Payoneer Global Trading Up 0.1 %

Shares of Payoneer Global stock opened at $10.13 on Wednesday. The firm has a market capitalization of $3.61 billion, a PE ratio of 28.94 and a beta of 0.90. Payoneer Global Inc. has a 12 month low of $4.22 and a 12 month high of $11.29. The business’s 50-day moving average price is $9.45 and its 200-day moving average price is $7.40.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. During the same period last year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 19.4% on a year-over-year basis. As a group, analysts predict that Payoneer Global Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other news, CAO Itai Perry sold 4,100 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares in the company, 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. Insiders sold a total of 7,562,402 shares of company stock worth $78,043,152 over the last three months. Company insiders own 5.57% of the company’s stock.

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.