Norges Bank Takes Position in Payoneer Global Inc. (NASDAQ:PAYO)

Norges Bank acquired a new position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,805,760 shares of the company's stock, valued at approximately $18,130,000. Norges Bank owned 0.51% of Payoneer Global as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PAYO. Smartleaf Asset Management LLC grew its holdings in Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock valued at $38,000 after buying an additional 3,064 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Payoneer Global by 29.3% in the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock worth $45,000 after acquiring an additional 1,016 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Payoneer Global by 21.2% in the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock worth $54,000 after acquiring an additional 940 shares during the last quarter. GAMMA Investing LLC grew its position in Payoneer Global by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company's stock worth $83,000 after buying an additional 2,425 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in Payoneer Global in the 4th quarter valued at approximately $105,000. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Trading Up 1.3 %

Payoneer Global stock traded up $0.08 during mid-day trading on Friday, hitting $6.33. The stock had a trading volume of 4,990,154 shares, compared to its average volume of 2,998,240. The stock has a 50-day simple moving average of $8.27 and a two-hundred day simple moving average of $9.22. The stock has a market capitalization of $2.28 billion, a PE ratio of 18.09, a P/E/G ratio of 2.88 and a beta of 1.02. Payoneer Global Inc. has a 12 month low of $4.73 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Thursday, February 27th. 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 13.82% and a return on equity of 17.78%. The business had revenue of $261.74 million for the quarter, compared to analyst estimates of $242.14 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. Sell-side analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other news, CFO Beatrice Ordonez sold 85,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares of the company's stock, valued at $23,974,548. This represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.57% of the company's stock.

Analysts Set New Price Targets

PAYO has been the subject of a number of recent research reports. Wolfe Research lowered Payoneer Global from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a report on Monday, February 3rd. They set a "buy" rating and a $13.00 price target for the company. Citigroup boosted their price objective on Payoneer Global from $14.50 to $16.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods cut their price target on Payoneer Global from $10.00 to $8.00 and set a "market perform" rating for the company in a report on Monday, March 31st. Finally, The Goldman Sachs Group decreased their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Payoneer Global currently has an average rating of "Moderate Buy" and an average price target of $12.36.

Payoneer Global 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.