Geode Capital Management LLC Boosts Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Geode Capital Management LLC raised its position in Payoneer Global Inc. (NASDAQ:PAYO) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,777,377 shares of the company’s stock after purchasing an additional 156,252 shares during the period. Geode Capital Management LLC owned about 1.90% of Payoneer Global worth $68,059,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of Payoneer Global by 405.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock valued at $38,000 after purchasing an additional 3,064 shares during the period. Fifth Third Bancorp increased its stake in shares of Payoneer Global by 29.3% during the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock valued at $45,000 after acquiring an additional 1,016 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Payoneer Global by 21.2% during the 4th 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 period. GAMMA Investing LLC boosted its position in shares of Payoneer Global by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock worth $83,000 after acquiring an additional 2,425 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in Payoneer Global in the fourth quarter valued at approximately $105,000. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Stock Up 1.3 %

PAYO opened at $6.33 on Friday. The firm has a market capitalization of $2.28 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.88 and a beta of 1.02. The firm’s 50 day moving average is $8.27 and its 200-day moving average is $9.22. Payoneer Global Inc. has a 52-week low of $4.73 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $261.74 million during the quarter, compared to analyst estimates of $242.14 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. During the same quarter in the prior year, the firm earned $0.05 EPS. Equities analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Payoneer Global

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

Wall Street Analysts Forecast Growth

PAYO has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods reduced their target price on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, March 31st. Citigroup upped their price target on Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.