Insight Wealth Strategies LLC Sells 31,924 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Insight Wealth Strategies LLC lowered its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 331,167 shares of the company’s stock after selling 31,924 shares during the period. Insight Wealth Strategies LLC owned about 0.09% of Payoneer Global worth $2,494,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PAYO. Wellington Management Group LLP lifted its stake in Payoneer Global by 68.4% during the fourth quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock worth $40,014,000 after purchasing an additional 3,161,509 shares during the last quarter. Vanguard Group Inc. lifted its stake in Payoneer Global by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after purchasing an additional 787,509 shares during the last quarter. Trueblood Wealth Management LLC bought a new stake in Payoneer Global during the first quarter worth about $101,000. Principal Financial Group Inc. lifted its stake in shares of Payoneer Global by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company’s stock valued at $7,679,000 after acquiring an additional 64,126 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after acquiring an additional 2,074 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Price Performance

PAYO traded down $0.02 during midday trading on Tuesday, reaching $7.66. 128,849 shares of the company’s stock traded hands, compared to its average volume of 2,612,783. The firm has a fifty day moving average of $7.05 and a two-hundred day moving average of $5.97. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 25.60 and a beta of 0.85. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $7.86.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PAYO. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Needham & Company LLC boosted their target price on Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday. Citigroup boosted their target price on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Northland Securities boosted their target price on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Benchmark reissued a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $8.64.

Insiders Place Their Bets

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the company’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 transaction of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the company’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 transaction of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott H. Galit sold 400,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total value of $2,137,602.00. Following the transaction, the director now owns 2,122,421 shares in the company, valued at $11,333,728.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 560,901 shares of company stock worth $3,256,620. Company insiders own 5.57% of the company’s stock.

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.