Insider Selling: Green Dot Co. (GDOT) CEO Sells 6,830 Shares of Stock

Green Dot Co. (NYSE:GDOT) CEO Steven W. Streit sold 6,830 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $62.00, for a total value of $423,460.00. Following the completion of the transaction, the chief executive officer now directly owns 176,621 shares of the company’s stock, valued at approximately $10,950,502. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Green Dot Co. (NYSE:GDOT) opened at $61.61 on Friday. The firm has a market capitalization of $3,122.38, a PE ratio of 35.93 and a beta of 0.96. Green Dot Co. has a fifty-two week low of $24.99 and a fifty-two week high of $65.88. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.09.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The company had revenue of $201.60 million during the quarter, compared to analysts’ expectations of $191.33 million. Green Dot had a return on equity of 12.55% and a net margin of 8.61%. Green Dot’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. analysts forecast that Green Dot Co. will post 1.71 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on GDOT shares. Craig Hallum started coverage on Green Dot in a report on Thursday, October 5th. They issued a “buy” rating and a $70.00 price objective for the company. Citigroup boosted their price objective on Green Dot from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, September 18th. Zacks Investment Research raised Green Dot from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Monday, November 13th. Jefferies Group reissued a “buy” rating and issued a $53.00 price objective on shares of Green Dot in a report on Thursday, October 12th. Finally, Lake Street Capital cut Green Dot from a “buy” rating to a “hold” rating and boosted their price objective for the company from $44.00 to $55.00 in a report on Wednesday, October 11th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.54.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDOT. Rothschild Asset Management Inc. acquired a new position in Green Dot in the 3rd quarter worth about $29,051,000. Renaissance Technologies LLC raised its holdings in Green Dot by 57.4% in the 2nd quarter. Renaissance Technologies LLC now owns 821,842 shares of the financial services provider’s stock worth $31,666,000 after purchasing an additional 299,842 shares during the period. JPMorgan Chase & Co. raised its holdings in Green Dot by 202.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 439,593 shares of the financial services provider’s stock worth $16,937,000 after purchasing an additional 294,121 shares during the period. GMT Capital Corp acquired a new position in Green Dot in the 3rd quarter worth about $13,178,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Green Dot in the 3rd quarter worth about $7,420,000. 79.15% of the stock is owned by institutional investors.

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Green Dot Company Profile

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

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