Insider Selling: Payoneer Global Inc. (NASDAQ:PAYO) Director Sells $1,912,255.95 in Stock

Payoneer Global Inc. (NASDAQ:PAYO) Director Scott H. Galit sold 352,165 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $5.43, for a total transaction of $1,912,255.95. Following the completion of the sale, the director now directly owns 2,122,421 shares in the company, valued at $11,524,746.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Payoneer Global Price Performance

Shares of PAYO opened at $5.46 on Friday. Payoneer Global Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $6.48. The firm’s 50 day moving average price is $5.63 and its 200 day moving average price is $5.16. The company has a market cap of $2.04 billion, a P/E ratio of 18.20 and a beta of 0.82. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.02.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Wednesday, May 8th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Payoneer Global had a net margin of 13.19% and a return on equity of 17.56%. The firm had revenue of $228.20 million for the quarter, compared to the consensus estimate of $211.63 million. During the same period in the prior year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, research analysts forecast that Payoneer Global Inc. will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Payoneer Global

Several large investors have recently added to or reduced their stakes in PAYO. Vanguard Group Inc. increased its position in shares of Payoneer Global by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 27,791,663 shares of the company’s stock valued at $170,085,000 after purchasing an additional 1,166,894 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Payoneer Global by 43.5% in the 4th quarter. Allianz Asset Management GmbH now owns 906,735 shares of the company’s stock valued at $4,724,000 after purchasing an additional 274,942 shares during the last quarter. Insight Wealth Strategies LLC increased its position in shares of Payoneer Global by 176.4% in the 1st quarter. Insight Wealth Strategies LLC now owns 356,666 shares of the company’s stock valued at $1,733,000 after purchasing an additional 227,604 shares during the last quarter. Hudson Bay Capital Management LP increased its position in shares of Payoneer Global by 100.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 600,000 shares of the company’s stock valued at $3,672,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Payoneer Global by 85.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,979,701 shares of the company’s stock valued at $18,236,000 after purchasing an additional 1,370,007 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PAYO shares. Benchmark reissued a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a research note on Tuesday, May 14th. Needham & Company LLC boosted their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup reduced their price target on shares of Payoneer Global from $7.50 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Payoneer Global has an average rating of “Buy” and an average target price of $7.00.

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.