Payoneer Global Inc. (NASDAQ:PAYO) Shares Bought by Arizona State Retirement System

Arizona State Retirement System increased its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,473 shares of the company’s stock after purchasing an additional 8,898 shares during the period. Arizona State Retirement System’s holdings in Payoneer Global were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SageView Advisory Group LLC acquired a new stake in Payoneer Global during the 1st quarter valued at approximately $39,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Payoneer Global by 27.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,074 shares during the period. Blueshift Asset Management LLC acquired a new stake in shares of Payoneer Global during the fourth quarter worth $56,000. Sage Rhino Capital LLC acquired a new stake in shares of Payoneer Global during the second quarter worth $56,000. Finally, Trueblood Wealth Management LLC acquired a new stake in shares of Payoneer Global in the 1st quarter worth about $101,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PAYO. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Benchmark restated a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a research report on Thursday, August 8th. The Goldman Sachs Group raised their target price on shares of Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC raised their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup increased their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.50.

Insider Transactions at Payoneer Global

In related news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the transaction, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott H. Galit sold 446,104 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.50, for a total value of $2,453,572.00. Following the completion of the transaction, the director now owns 2,122,421 shares of the company’s stock, valued at $11,673,315.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,890,082 shares of company stock valued at $10,516,245. 5.57% of the stock is currently owned by corporate insiders.

Payoneer Global Stock Performance

PAYO opened at $7.39 on Tuesday. The firm’s 50-day simple moving average is $6.40 and its 200-day simple moving average is $5.65. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $7.59. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 24.63 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 EPS. As a group, sell-side analysts anticipate that Payoneer Global Inc. will post 0.25 EPS for the current fiscal year.

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.