Victory Capital Management Inc. Sells 279,665 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Victory Capital Management Inc. decreased its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,138,120 shares of the company’s stock after selling 279,665 shares during the period. Victory Capital Management Inc. owned approximately 1.08% of Payoneer Global worth $31,160,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Natixis acquired a new stake in shares of Payoneer Global in the 1st quarter worth about $3,106,000. Janus Henderson Group PLC lifted its holdings in shares of Payoneer Global by 131.6% in the first quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock valued at $1,744,000 after purchasing an additional 203,943 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Payoneer Global during the first quarter valued at approximately $986,000. ProShare Advisors LLC grew its holdings in Payoneer Global by 7.5% during the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock worth $259,000 after buying an additional 3,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Payoneer Global by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after buying an additional 178,842 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Scott H. Galit sold 150,000 shares of Payoneer Global 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 completion of the transaction, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the sale, the insider now owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,658,000 shares of company stock valued at $78,524,500 over the last quarter. Company insiders own 5.57% of the company’s stock.

Payoneer Global Trading Up 0.4 %

Shares of NASDAQ PAYO opened at $10.37 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 29.63 and a beta of 0.82. The stock has a fifty day simple moving average of $8.34 and a two-hundred day simple moving average of $6.79. Payoneer Global Inc. has a 1-year low of $4.22 and a 1-year high of $10.90.

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

Analyst Ratings Changes

PAYO has been the subject of several recent analyst reports. Benchmark upped their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their target price on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Citigroup lifted their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research note 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.com, Payoneer Global has a consensus rating of “Buy” and an average 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.