Quadrature Capital Ltd Lowers Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Quadrature Capital Ltd lowered its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 30.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 87,417 shares of the company’s stock after selling 37,564 shares during the period. Quadrature Capital Ltd’s holdings in Payoneer Global were worth $658,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. AXA S.A. grew its holdings in Payoneer Global by 1,394.5% during the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after acquiring an additional 13,227,884 shares during the period. Azora Capital LP purchased a new stake in Payoneer Global in the 3rd quarter worth approximately $31,901,000. Legion Partners Asset Management LLC acquired a new stake in shares of Payoneer Global during the 2nd quarter worth approximately $12,360,000. American Century Companies Inc. increased its holdings in shares of Payoneer Global by 241.5% during the 2nd quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock valued at $9,106,000 after purchasing an additional 1,162,481 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock valued at $37,473,000 after purchasing an additional 995,366 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Analysts Set New Price Targets

PAYO has been the subject of a number of recent analyst reports. Benchmark lifted their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Northland Securities upped their price target on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group raised their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup upped their target price on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Payoneer Global currently has a consensus rating of “Buy” and a consensus target price of $11.36.

Payoneer Global Trading Up 1.5 %

NASDAQ:PAYO opened at $10.95 on Monday. The stock has a 50 day moving average of $9.35 and a two-hundred day moving average of $7.35. Payoneer Global Inc. has a 12 month low of $4.22 and a 12 month high of $11.29. The firm has a market cap of $3.90 billion, a P/E ratio of 31.29 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 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 analysts’ expectations of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. On average, research analysts forecast that Payoneer Global Inc. will post 0.32 earnings per share for the current year.

Insider Activity

In related news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total transaction of $31,200.00. Following 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 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,562,402 shares of company stock worth $78,043,152 over the last three months. Insiders own 5.57% of the company’s stock.

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.