Insider Sale: Payoneer Global Inc. (NASDAQ: PAYO) CFO Sells $251,362.00 in Shares
Payoneer Global Inc. (NASDAQ: PAYO – Get a rating) Chief Financial Officer Michael G. Levine sold 36,965 shares of the company in a trade on Tuesday, August 16. The stock was sold at an average price of $6.80, for a total transaction of $251,362.00. Following the completion of the sale, the CFO now owns 1,178,854 shares of the company, valued at approximately $8,016,207.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink.
Payoneer Global Trading down 4.9%
PAYO Stock opened at $6.35 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt ratio of 0.03. Payoneer Global Inc. has a 12-month low of $3.33 and a 12-month high of $10.84. The stock has a market capitalization of $2.18 billion, a price/earnings ratio of 635.00 and a beta of 1.30. The company’s fifty-day simple moving average is $5.03 and its two-hundred-day simple moving average is $4.74.
Global Payoneer (NASDAQ: PAYO – Get a rating) last released its quarterly earnings data on Thursday, August 11. The company reported earnings per share of $0.01 for the quarter, beating analyst consensus estimates of ($0.06) by $0.07. Payoneer Global had a net margin of 1.20% and a negative return on equity of 10.61%. The company posted revenue of $148.19 million for the quarter, versus $131.48 million expected by analysts. In the same quarter a year earlier, the company posted ($0.77) earnings per share. The company’s revenues increased by 33.6% compared to the same quarter last year. As a group, analysts expect Payoneer Global Inc. to post -0.03 earnings per share for the current year.
Wall Street analysts predict growth
Several brokerages have recently weighed in on PAYO. Goldman Sachs Group raised its price target on Payoneer Global shares to $8.50 in a Monday, August 15 research report. Needham & Company LLC raised its price target on Payoneer Global shares from $7.00 to $9.00 and gave the stock a “buy” rating in a Friday, August 12 research report. Citigroup raised its price target on Payoneer Global shares to $9.00 in a Monday, August 15 research report. Finally, Northland Securities cut its price target on Payoneer Global shares from $14.00 to $9.00 in a Friday, May 13 research report.
Institutional entries and exits
Hedge funds have recently been buying and selling shares of the company. Qube Research & Technologies Ltd bought a new position in shares of Payoneer Global in the fourth quarter for a value of approximately $596,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new equity position in Payoneer Global in the fourth quarter for a value of approximately $229,000. Arizona State Retirement System bought a new position in shares of Payoneer Global in the fourth quarter for a value of approximately $435,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Payoneer Global in the fourth quarter for a value of approximately $185,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings of Payoneer Global shares by 36.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,633 shares of the company worth $118,000 after purchasing an additional 4,453 shares in the last quarter. Institutional investors hold 66.30% of the company’s shares.
About Payoneer Global
Payoneer Global Inc operates a payment and commerce platform that facilitates online marketplaces, platforms and merchants worldwide. It offers a suite of services that includes cross-border payments, B2B accounts payable/receivable, multi-currency accounts, physical and virtual Mastercard, working capital, merchant, tax, compliance and risk, and more.
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