Charles Schwab Investment Management Inc. Sells 79,213 Shares of Payoneer Global Inc. $PAYO

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Payoneer Global Inc. by 3.3% during the first quarter, holding approximately 2.35 million shares valued at $17.17 million.
• Payoneer Global's latest earnings report revealed a net revenue of $260.61 million for the quarter, surpassing analysts' expectations, but missing earnings per share estimates with a reported $0.05.
• Several brokerages have given favorable ratings for Payoneer Global, with a consensus rating of "Moderate Buy" and an average target price of $10.06.

Charles Schwab Investment Management Inc. reduced its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,348,972 shares of the company's stock after selling 79,213 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.65% of Payoneer Global worth $17,171,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PAYO. Farther Finance Advisors LLC acquired a new position in shares of Payoneer Global during the 1st quarter worth about $25,000. Quarry LP acquired a new position in shares of Payoneer Global in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc grew its position in shares of Payoneer Global by 420.6% in the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock valued at $37,000 after purchasing an additional 4,067 shares during the period. IFP Advisors Inc grew its position in shares of Payoneer Global by 47,800.0% in the 1st quarter. IFP Advisors Inc now owns 6,227 shares of the company's stock valued at $46,000 after purchasing an additional 6,214 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Payoneer Global by 559.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock valued at $62,000 after purchasing an additional 7,195 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the transaction, the director directly owned 80,902 shares of the company's stock, valued at approximately $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.58% of the company's stock.

Payoneer Global Stock Up 1.3%

Shares of NASDAQ PAYO traded up $0.09 during trading hours on Thursday, hitting $6.88. The company had a trading volume of 1,957,572 shares, compared to its average volume of 3,963,786. The stock has a market capitalization of $2.48 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 8.94 and a beta of 0.97. Payoneer Global Inc. has a 1-year low of $5.71 and a 1-year high of $11.29. The firm's 50 day moving average is $6.76 and its 200-day moving average is $7.19.

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

Wall Street Analysts Forecast Growth

PAYO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price objective for the company. Jefferies Financial Group boosted their price objective on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Needham & Company LLC boosted their target price on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Citigroup restated a "buy" rating and issued a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $10.06.

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.