Payoneer Global Inc. (NASDAQ:PAYO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 7.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,910 shares of the company’s stock after selling 7,628 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Payoneer Global were worth $672,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PAYO. SG Americas Securities LLC grew its position in shares of Payoneer Global by 2,262.5% during the first quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company’s stock worth $8,886,000 after buying an additional 1,164,128 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Payoneer Global in the fourth quarter worth approximately $1,809,000. Charles Schwab Investment Management Inc. grew its holdings in Payoneer Global by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,428,185 shares of the company’s stock worth $24,379,000 after acquiring an additional 91,029 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Payoneer Global by 23.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 715,857 shares of the company’s stock valued at $7,187,000 after purchasing an additional 135,730 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Payoneer Global by 16.6% in the 4th quarter. Invesco Ltd. now owns 991,268 shares of the company’s stock valued at $9,952,000 after purchasing an additional 141,376 shares during the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Analysts Set New Price Targets

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

Payoneer Global Trading Up 2.1%

Shares of NASDAQ PAYO opened at $6.89 on Thursday. The stock has a market cap of $2.49 billion, a P/E ratio of 22.97 and a beta of 0.98. Payoneer Global Inc. has a twelve month low of $5.03 and a twelve month high of $11.29. The stock has a 50 day moving average of $6.86 and a two-hundred day moving average of $8.08.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The business had revenue of $246.62 million during the quarter, compared to analysts’ expectations of $244.52 million. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In related news, Director Susanna Morgan sold 16,180 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the transaction, the director owned 80,902 shares in the company, valued at $547,706.54. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.58% of the stock is currently owned by corporate insiders.

About Payoneer Global

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.