Deutsche Bank AG Sells 517,895 Shares of Payoneer Global Inc. $PAYO

Key Points

• Deutsche Bank AG reduced its holdings in Payoneer Global by 18.6% in Q1, owning 2,261,215 shares worth approximately $16.5 million after selling 517,895 shares.
• Significant institutional investors like Susquehanna Capital Management and Vanguard Group increased their stakes in Payoneer Global, highlighting growing interest in the company.
• Despite a revenue increase of 8.8% year-over-year, Payoneer reported earnings per share of $0.05, missing the consensus estimate of $0.06.

Deutsche Bank AG reduced its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,261,215 shares of the company's stock after selling 517,895 shares during the quarter. Deutsche Bank AG owned approximately 0.63% of Payoneer Global worth $16,529,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Payoneer Global during the fourth quarter worth approximately $29,000. Farther Finance Advisors LLC acquired a new position in Payoneer Global in the first quarter worth approximately $25,000. Versant Capital Management Inc lifted its stake in Payoneer Global by 420.6% in the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock valued at $37,000 after acquiring an additional 4,067 shares during the last quarter. IFP Advisors Inc lifted its stake in Payoneer Global by 47,800.0% in the first quarter. IFP Advisors Inc now owns 6,227 shares of the company's stock valued at $46,000 after acquiring an additional 6,214 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Payoneer Global by 559.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock valued at $62,000 after acquiring an additional 7,195 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAYO. Jefferies Financial Group lifted their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Needham & Company LLC lifted their target price on shares of Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. 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 research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target on the stock. Finally, Wall Street Zen raised shares of Payoneer Global from a "sell" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Payoneer Global has an average rating of "Moderate Buy" and a consensus target price of $10.06.

Insider Activity

In other news, Director Susanna Morgan sold 16,180 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the sale, the director owned 80,902 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 2.58% of the company's stock.

Payoneer Global Stock Up 1.6%

Shares of NASDAQ:PAYO traded up $0.11 during midday trading on Monday, hitting $6.84. The stock had a trading volume of 1,097,579 shares, compared to its average volume of 3,414,468. Payoneer Global Inc. has a 12 month low of $5.71 and a 12 month high of $11.29. The business's 50-day simple moving average is $6.75 and its 200-day simple moving average is $7.39. The company has a market cap of $2.46 billion, a P/E ratio of 26.29, a PEG ratio of 8.86 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%. The company had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. During the same period last year, the firm earned $0.09 earnings per share. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

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.