142,016 Shares in Payoneer Global Inc. (NASDAQ:PAYO) Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. purchased 142,016 shares of Payoneer Global Inc. for approximately $1,038,000 in the first quarter, marking a significant investment by the firm.
• Payoneer Global reported $246.62 million in revenue for the last quarter, which exceeded analyst estimates, despite missing earnings per share expectations with a reported EPS of $0.05.
• Analyst ratings for Payoneer Global are generally positive, with an average rating of "Buy" and a consensus price target of $9.81 following multiple upgrades from various financial institutions.

Envestnet Asset Management Inc. purchased a new stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 142,016 shares of the company's stock, valued at approximately $1,038,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAYO. Susquehanna Capital Management LLC lifted its position in shares of Payoneer Global by 290.3% during 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. Deutsche Bank AG increased its position 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 worth $27,902,000 after acquiring an additional 1,991,449 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Payoneer Global in the fourth quarter valued at about $19,305,000. D. E. Shaw & Co. Inc. grew its stake in Payoneer Global by 1,065.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,081,589 shares of the company's stock valued at $20,899,000 after purchasing an additional 1,902,925 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Payoneer Global in the 4th quarter valued at approximately $18,130,000. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Trading Up 11.2%

PAYO stock traded up $0.73 during trading hours on Wednesday, hitting $7.23. 6,258,127 shares of the stock traded hands, compared to its average volume of 3,382,838. The stock has a 50-day simple moving average of $6.75 and a 200 day simple moving average of $7.61. Payoneer Global Inc. has a one year low of $5.71 and a one year high of $11.29. The company has a market cap of $2.61 billion, a P/E ratio of 24.14 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. During the same period last year, the company posted $0.09 EPS. The company's revenue was up 8.8% on a year-over-year basis. Analysts forecast that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PAYO shares. Jefferies Financial Group increased their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. Needham & Company LLC cut their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research note on Thursday, July 17th. They issued a "buy" rating and a $8.00 target price on the stock. Finally, Citigroup restated a "buy" rating and issued a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Payoneer Global presently has a consensus rating of "Buy" and a consensus target price of $9.81.

Insider Activity at Payoneer Global

In other news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the transaction, the director owned 80,902 shares in the company, valued at approximately $547,706.54. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.