State of Alaska Department of Revenue Lowers Stake in Payoneer Global Inc. (NASDAQ:PAYO)

State of Alaska Department of Revenue reduced its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,269 shares of the company’s stock after selling 3,654 shares during the quarter. State of Alaska Department of Revenue’s holdings in Payoneer Global were worth $1,039,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Susquehanna Capital Management LLC raised its holdings in Payoneer Global by 290.3% in the fourth quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock worth $253,700,000 after purchasing an additional 18,794,047 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Payoneer Global by 200.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company’s stock valued at $34,842,000 after acquiring an additional 2,313,481 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Payoneer Global by 252.8% during the fourth quarter. Deutsche Bank AG now owns 2,779,110 shares of the company’s stock valued at $27,902,000 after acquiring an additional 1,991,449 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Payoneer Global during the fourth quarter valued at about $19,305,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Payoneer Global by 1,065.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,081,589 shares of the company’s stock valued at $20,899,000 after acquiring an additional 1,902,925 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO opened at $6.82 on Friday. The company’s fifty day moving average price is $6.83 and its 200 day moving average price is $8.29. Payoneer Global Inc. has a 1 year low of $5.03 and a 1 year high of $11.29. The company has a market capitalization of $2.47 billion, a PE ratio of 22.73 and a beta of 0.99.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The firm had revenue of $246.62 million for the quarter, compared to analysts’ expectations of $244.52 million. During the same period last year, the company posted $0.08 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group increased their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. Needham & Company LLC cut their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Citigroup reiterated a “buy” rating and issued a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.44.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the transaction, the director now directly owns 80,902 shares of the company’s stock, valued at $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.58% 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.