Crossover Managemen Technology Sells 7,500,000 Shares of Payoneer Global Inc. (NASDAQ:PAYO) Stock

Payoneer Global Inc. (NASDAQ:PAYO) insider Crossover Managemen Technology sold 7,500,000 shares of the company’s 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 transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Payoneer Global Price Performance

Shares of PAYO stock traded up $0.02 on Friday, hitting $10.35. The company’s stock had a trading volume of 261,448 shares, compared to its average volume of 2,724,650. Payoneer Global Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $10.90. The firm’s fifty day moving average price is $8.27 and its 200-day moving average price is $6.74. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 29.52 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PAYO. Citigroup boosted their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Northland Securities upped their price objective on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Benchmark upped their price objective on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods raised their target price on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Payoneer Global presently has an average rating of “Buy” and an average target price of $10.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of Payoneer Global by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after acquiring an additional 2,552 shares in the last quarter. Quarry LP acquired a new stake in shares of Payoneer Global during the 2nd quarter valued at about $29,000. GAMMA Investing LLC boosted its position in shares of Payoneer Global by 438.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after acquiring an additional 4,736 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Payoneer Global during the 1st quarter valued at about $39,000. Finally, FSC Wealth Advisors LLC acquired a new position in Payoneer Global in the third quarter valued at about $68,000. Institutional investors own 82.22% 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.