Payoneer Global Inc. $PAYO Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank has decreased its stake in Payoneer Global Inc. by 8.0%, now holding approximately 552,700 shares, valued at about $4 million.
• Multiple institutional investors have increased their stakes in Payoneer, with Wells Fargo raising its position by 47.4% and Invesco by 16.6% in the last quarter.
• Payoneer reported a 0.05 EPS for the latest quarter, missing expectations, but its revenue increased by 8.8% year-over-year to $260.61 million.

Swiss National Bank lowered its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 552,700 shares of the company's stock after selling 48,100 shares during the period. Swiss National Bank owned approximately 0.15% of Payoneer Global worth $4,040,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Payoneer Global by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock valued at $132,000 after purchasing an additional 1,808 shares during the period. Vanguard Group Inc. increased its stake in shares of Payoneer Global by 12.1% in the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after buying an additional 3,656,056 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Payoneer Global in the first quarter worth $445,000. Federated Hermes Inc. increased its stake in shares of Payoneer Global by 706.1% in the first quarter. Federated Hermes Inc. now owns 47,626 shares of the company's stock worth $348,000 after buying an additional 41,718 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Payoneer Global in the first quarter worth $12,102,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

Insiders Place Their Bets

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the business's stock in a transaction on 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. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PAYO shares. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. 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. Wall Street Zen lowered shares of Payoneer Global from a "hold" rating to a "sell" rating in a research note on Sunday. Needham & Company LLC lifted their price target on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.06.

Payoneer Global Stock Down 0.3%

PAYO stock traded down $0.02 during trading on Tuesday, hitting $6.76. 3,078,505 shares of the company's stock traded hands, compared to its average volume of 3,944,387. Payoneer Global Inc. has a 52 week low of $5.71 and a 52 week high of $11.29. The stock has a fifty day moving average price of $6.75 and a two-hundred day moving average price of $7.21. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 8.92 and a beta of 0.97.

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 business had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. During the same quarter in the previous year, the firm earned $0.09 EPS. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Payoneer Global Company Profile

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.