Meitav Investment House Ltd. Makes New Investment in Payoneer Global Inc. (NASDAQ:PAYO)

Meitav Investment House Ltd. acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,352 shares of the company’s stock, valued at approximately $174,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Payoneer Global by 5.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,549,388 shares of the company’s stock worth $15,556,000 after purchasing an additional 86,620 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Payoneer Global in the 4th quarter valued at $1,946,000. 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. New York State Teachers Retirement System boosted its position in shares of Payoneer Global by 19.0% during the 4th quarter. New York State Teachers Retirement System now owns 229,414 shares of the company’s stock valued at $2,303,000 after acquiring an additional 36,561 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Payoneer Global by 6.7% in the fourth quarter. Van ECK Associates Corp now owns 89,821 shares of the company’s stock valued at $902,000 after acquiring an additional 5,612 shares during the period. 82.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on PAYO shares. Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Northland Securities raised their target price on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC upped their price target on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

Insiders Place Their Bets

In other news, insider Tsafi Goldman sold 263,873 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the completion of the sale, the insider now owns 741,748 shares in the company, valued at $7,491,654.80. The trade was a 26.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value 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 trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 446,796 shares of company stock valued at $4,536,413 in the last 90 days. 5.57% of the stock is currently owned by insiders.

Payoneer Global Stock Performance

Shares of PAYO stock opened at $10.43 on Friday. The stock’s fifty day moving average is $10.35 and its 200-day moving average is $9.10. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $11.29. The stock has a market capitalization of $3.72 billion, a PE ratio of 29.80, a PEG ratio of 2.96 and a beta of 0.93.

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.