Payoneer Global Inc. (NASDAQ:PAYO) Shares Sold by Battery Global Advisors LLC

Key Points

• Battery Global Advisors LLC has reduced its holdings in Payoneer Global Inc. by 6.5%, now owning approximately 2.9 million shares, which make up about 11.8% of the firm's portfolio.
• Payoneer Global has received several upgrades from analysts, with Keefe, Bruyette & Woods raising its price target from $7.00 to $9.00, indicating a positive outlook for the stock.
• In its latest financial report, Payoneer Global missed earnings expectations with $0.05 EPS compared to the consensus estimate of $0.06, but reported a revenue of $260.61 million, exceeding analyst projections.

Battery Global Advisors LLC trimmed its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,890,975 shares of the company's stock after selling 200,000 shares during the period. Payoneer Global accounts for approximately 11.8% of Battery Global Advisors LLC's holdings, making the stock its 3rd biggest position. Battery Global Advisors LLC owned approximately 0.80% of Payoneer Global worth $21,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAYO. Vanguard Group Inc. raised its holdings in shares of Payoneer Global by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after purchasing an additional 3,656,056 shares in the last quarter. Susquehanna Capital Management LLC increased its stake in shares of 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 acquiring an additional 18,794,047 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Payoneer Global by 5.3% in the fourth 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. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 156,252 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of 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 purchasing an additional 21,149 shares during the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PAYO. Citigroup reaffirmed a "buy" rating and set a $10.00 price objective (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Keefe, Bruyette & Woods raised 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 upped their price objective on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Jefferies Financial Group upped their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Payoneer Global in a report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Payoneer Global has an average rating of "Buy" and a consensus target price of $10.06.

Payoneer Global Stock Performance

Shares of PAYO stock traded up $0.03 during mid-day trading on Monday, reaching $6.67. The company's stock had a trading volume of 1,513,779 shares, compared to its average volume of 3,429,403. Payoneer Global Inc. has a 1-year low of $5.71 and a 1-year high of $11.29. The company has a market cap of $2.41 billion, a P/E ratio of 25.67, a PEG ratio of 8.74 and a beta of 0.97. The firm's 50-day moving average is $6.76 and its two-hundred day moving average is $7.52.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The business had revenue of $260.61 million during the quarter, compared to analyst estimates of $253.17 million. During the same quarter in the prior year, the company posted $0.09 EPS. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Payoneer Global Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the sale, the director owned 80,902 shares in the company, valued at $547,706.54. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.58% of the stock is owned by company 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.