Insight Wealth Strategies LLC Sells 36,515 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Insight Wealth Strategies LLC reduced its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 11.0% in the fourth quarter, HoldingsChannel reports. The firm owned 294,652 shares of the company’s stock after selling 36,515 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Payoneer Global were worth $2,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Payoneer Global by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock valued at $24,475,000 after buying an additional 645,887 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Payoneer Global by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock valued at $17,599,000 after acquiring an additional 67,255 shares during the period. Quest Partners LLC bought a new stake in shares of Payoneer Global during the 3rd quarter valued at $415,000. Wedge Capital Management L L P NC purchased a new stake in shares of Payoneer Global in the 3rd quarter worth $1,509,000. Finally, FMR LLC raised its holdings in Payoneer Global by 17.2% in the 3rd quarter. FMR LLC now owns 1,129,312 shares of the company’s stock worth $8,504,000 after purchasing an additional 165,913 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Insider Activity at Payoneer Global

In related news, CAO Itai Perry sold 3,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were 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 $1,829,904. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,922,625 shares of company stock valued at $81,678,514. Insiders own 5.57% of the company’s stock.

Payoneer Global Stock Performance

Shares of Payoneer Global stock traded down $0.25 on Monday, hitting $10.23. 1,537,859 shares of the company traded hands, compared to its average volume of 1,700,091. The business has a 50-day simple moving average of $10.22 and a 200 day simple moving average of $7.96. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $11.29. The stock has a market capitalization of $3.65 billion, a P/E ratio of 29.23 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (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 company had revenue of $248.30 million for the quarter, compared to the consensus estimate of $225.44 million. During the same period in the previous year, the firm posted $0.05 EPS. Payoneer Global’s revenue for the quarter was up 19.4% compared to the same quarter last year. Research analysts expect that Payoneer Global Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAYO. Benchmark upped their price target on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Needham & Company LLC increased their target price on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Northland Securities lifted their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods reduced their price objective on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group raised their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global presently has an average rating of “Buy” and an average target price of $11.21.

Payoneer Global 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.