Arizona State Retirement System Has $598,000 Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Arizona State Retirement System cut its position in Payoneer Global Inc. (NASDAQ:PAYO) by 7.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,786 shares of the company’s stock after selling 6,788 shares during the quarter. Arizona State Retirement System’s holdings in Payoneer Global were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAYO. Susquehanna Capital Management LLC grew its holdings in Payoneer Global by 290.3% during the 4th quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock worth $253,700,000 after acquiring an additional 18,794,047 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Payoneer Global by 5.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company’s stock worth $87,450,000 after acquiring an additional 440,231 shares during the last quarter. American Century Companies Inc. grew its holdings in Payoneer Global by 24.8% during the 4th quarter. American Century Companies Inc. now owns 8,166,652 shares of the company’s stock worth $81,993,000 after acquiring an additional 1,624,948 shares during the last quarter. Geode Capital Management LLC grew its holdings in Payoneer Global by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company’s stock worth $68,059,000 after acquiring an additional 156,252 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Payoneer Global by 0.3% during the 4th quarter. Millennium Management LLC now owns 6,523,595 shares of the company’s stock worth $65,497,000 after acquiring an additional 21,149 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO opened at $6.83 on Tuesday. Payoneer Global Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $11.29. The business has a 50-day simple moving average of $6.85 and a two-hundred day simple moving average of $7.89. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 22.77 and a beta of 0.98.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $244.52 million. During the same period in the prior year, the company posted $0.08 earnings per share. The company’s revenue 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.

Analyst Ratings Changes

Several brokerages recently issued reports on PAYO. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research note on Thursday, July 17th. They set a “buy” rating and a $8.00 target price on the stock. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Needham & Company LLC lowered their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Jefferies Financial Group increased their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the company a “buy” rating in a report on Tuesday, May 27th. Finally, 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 report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global presently has an average rating of “Buy” and an average price target of $9.81.

Insider Activity at Payoneer Global

In related news, Director Susanna Morgan sold 16,180 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the sale, the director directly owned 80,902 shares in the company, valued at $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.58% of the company’s stock.

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.