Principal Financial Group Inc. Reduces Position in Payoneer Global Inc. (NASDAQ:PAYO)

Principal Financial Group Inc. lessened its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,462,768 shares of the company’s stock after selling 62,307 shares during the quarter. Principal Financial Group Inc. owned approximately 0.38% of Payoneer Global worth $11,015,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PAYO. Advisor Resource Council bought a new position in shares of Payoneer Global during the third quarter valued at approximately $105,000. Van ECK Associates Corp raised its holdings in shares of Payoneer Global by 1.6% during the third quarter. Van ECK Associates Corp now owns 84,209 shares of the company’s stock valued at $634,000 after acquiring an additional 1,306 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Payoneer Global during the third quarter valued at approximately $68,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Payoneer Global by 19,791.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 41,772 shares of the company’s stock valued at $315,000 after acquiring an additional 41,562 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after acquiring an additional 2,552 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Payoneer Global Trading Up 0.4 %

NASDAQ PAYO opened at $10.37 on Monday. Payoneer Global Inc. has a 12 month low of $4.22 and a 12 month high of $10.90. The stock has a market cap of $3.96 billion, a P/E ratio of 29.63 and a beta of 0.82. The stock’s fifty day moving average price is $8.34 and its 200-day moving average price is $6.80.

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

Insider Transactions at Payoneer Global

In related news, CAO Itai Perry sold 4,100 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at $1,829,904. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $77,400,000.00. Following the sale, the insider now directly owns 34,197,116 shares in the company, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,658,000 shares of company stock valued at $78,524,500. Insiders own 5.57% of the company’s stock.

Wall Street Analyst Weigh In

PAYO has been the subject of a number of recent analyst reports. Northland Securities upped their target price on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Keefe, Bruyette & Woods increased their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Benchmark increased their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC increased their price objective on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup increased their price objective on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $10.79.

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.