Payoneer Global Inc. (NASDAQ:PAYO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,549,388 shares of the company’s stock after purchasing an additional 86,620 shares during the period. Principal Financial Group Inc. owned 0.43% of Payoneer Global worth $15,556,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. State of New Jersey Common Pension Fund D purchased a new position in Payoneer Global during the 4th quarter worth $1,946,000. Blue Trust Inc. boosted its holdings in Payoneer Global by 21.2% in the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after acquiring an additional 940 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Payoneer Global by 19.0% during the fourth quarter. New York State Teachers Retirement System now owns 229,414 shares of the company’s stock worth $2,303,000 after acquiring an additional 36,561 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Payoneer Global by 6.7% during the fourth quarter. Van ECK Associates Corp now owns 89,821 shares of the company’s stock worth $902,000 after acquiring an additional 5,612 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Payoneer Global by 133.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company’s stock valued at $990,000 after acquiring an additional 55,766 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on PAYO shares. Keefe, Bruyette & Woods dropped their target price on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price target on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective for the company. Northland Securities upped their target price on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Citigroup raised their price target on shares of Payoneer Global from $8.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Payoneer Global presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Payoneer Global Price Performance

PAYO opened at $9.95 on Wednesday. The company’s 50 day simple moving average is $10.32 and its two-hundred day simple moving average is $9.22. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.88 and a beta of 0.93. Payoneer Global Inc. has a 1-year low of $4.22 and a 1-year high of $11.29.

Insider Buying and Selling

In related news, insider Tsafi Goldman sold 263,873 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.10, for a total value of $2,665,117.30. Following the completion of the sale, the insider now owns 741,748 shares of the company’s stock, valued at approximately $7,491,654.80. This represents a 26.24 % 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, CFO Beatrice Ordonez sold 85,000 shares of Payoneer Global stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now directly owns 2,305,245 shares in the company, valued at $23,974,548. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 445,223 shares of company stock worth $4,519,362. 5.57% of the stock is owned by corporate insiders.

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.