Crossover Managemen Technology Sells 7,500,000 Shares of Payoneer Global Inc. (NASDAQ:PAYO) Stock

Payoneer Global Inc. (NASDAQ:PAYO) insider Crossover Managemen Technology sold 7,500,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction 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. The trade was a 17.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Payoneer Global Trading Up 0.4 %

PAYO stock opened at $10.37 on Friday. Payoneer Global Inc. has a 1-year low of $4.22 and a 1-year high of $10.90. The business’s 50 day moving average is $8.34 and its 200-day moving average is $6.79. The firm has a market cap of $3.96 billion, a P/E ratio of 29.63 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 earnings per share. Sell-side analysts forecast that Payoneer Global Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PAYO. The Goldman Sachs Group increased their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC lifted their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Benchmark boosted their price target on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $10.79.

Hedge Funds Weigh In On Payoneer Global

Several institutional investors have recently added to or reduced their stakes in PAYO. Barclays PLC increased its holdings in shares of Payoneer Global by 352.8% during the third quarter. Barclays PLC now owns 498,727 shares of the company’s stock worth $3,755,000 after buying an additional 388,584 shares in the last quarter. Weiss Asset Management LP bought a new stake in Payoneer Global during the 3rd quarter worth approximately $2,339,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Payoneer Global during the 3rd quarter valued at $3,982,000. Centiva Capital LP bought a new position in Payoneer Global in the 3rd quarter valued at $121,000. Finally, Azora Capital LP acquired a new position in Payoneer Global in the third quarter worth $31,901,000. 82.22% of the stock is owned by institutional investors.

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.