Principal Financial Group Inc. Has $6.82 Million Stock Position in Payoneer Global Inc. $PAYO

Principal Financial Group Inc. reduced its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 26.6% in the 1st quarter, HoldingsChannel reports. The firm owned 1,411,348 shares of the company’s stock after selling 511,703 shares during the period. Principal Financial Group Inc.’s holdings in Payoneer Global were worth $6,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in Payoneer Global by 2.4% during the fourth quarter. Van ECK Associates Corp now owns 84,678 shares of the company’s stock worth $476,000 after buying an additional 1,977 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of Payoneer Global by 9.5% during the third quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock worth $149,000 after buying an additional 2,144 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Payoneer Global by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock valued at $309,000 after acquiring an additional 2,145 shares during the last quarter. LPL Financial LLC raised its stake in shares of Payoneer Global by 5.8% in the fourth quarter. LPL Financial LLC now owns 42,211 shares of the company’s stock valued at $237,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Payoneer Global by 8.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company’s stock worth $178,000 after acquiring an additional 2,368 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Price Performance

Shares of PAYO opened at $7.12 on Tuesday. The stock’s fifty day simple moving average is $6.45 and its 200-day simple moving average is $5.62. The firm has a market capitalization of $2.38 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 0.80 and a beta of 0.95. Payoneer Global Inc. has a 12-month low of $4.08 and a 12-month high of $7.66.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $261.60 million during the quarter, compared to analyst estimates of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. Analysts anticipate that Payoneer Global Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

PAYO has been the topic of a number of research analyst reports. Citigroup lowered Payoneer Global from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $7.40 in a research report on Tuesday, June 16th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Benchmark lowered Payoneer Global from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Weiss Ratings upgraded Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Finally, Northland Securities set a $7.40 target price on Payoneer Global in a research note on Monday, June 15th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Payoneer Global currently has a consensus rating of “Hold” and an average price target of $7.40.

Insider Activity

In other news, CFO Beatrice Ordonez sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the transaction, the chief financial officer owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. This trade represents a 0.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company’s stock.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.