BlackRock Inc. Acquires 514,669 Shares of Green Dot Co. (GDOT)

BlackRock Inc. increased its holdings in shares of Green Dot Co. (NYSE:GDOT) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,745,801 shares of the financial services provider’s stock after acquiring an additional 514,669 shares during the quarter. BlackRock Inc. owned about 14.73% of Green Dot worth $687,983,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in GDOT. Bank of Montreal Can bought a new position in Green Dot during the second quarter worth about $165,000. Harvest Fund Management Co. Ltd bought a new position in Green Dot during the third quarter worth about $165,000. Adviser Investments LLC increased its position in Green Dot by 361.8% during the second quarter. Adviser Investments LLC now owns 3,450 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 2,703 shares during the period. Cynosure Advisors LLC bought a new position in Green Dot during the second quarter worth about $280,000. Finally, Clarus Wealth Advisors bought a new position in Green Dot during the third quarter worth about $287,000. 85.75% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Steven W. Streit sold 9,860 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $89.82, for a total value of $885,625.20. Following the sale, the chief executive officer now directly owns 323,202 shares in the company, valued at approximately $29,030,003.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven W. Streit sold 43,396 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $87.02, for a total transaction of $3,776,319.92. Following the completion of the sale, the insider now owns 236,471 shares in the company, valued at $20,577,706.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 449,338 shares of company stock worth $36,541,157. 9.70% of the stock is currently owned by corporate insiders.

GDOT stock opened at $83.54 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. Green Dot Co. has a 12 month low of $54.08 and a 12 month high of $93.00. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 52.87 and a beta of 1.03.

Green Dot (NYSE:GDOT) last released its earnings results on Wednesday, November 7th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.25 by $0.13. Green Dot had a net margin of 11.47% and a return on equity of 14.80%. The firm had revenue of $230.58 million for the quarter, compared to analyst estimates of $223.95 million. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts forecast that Green Dot Co. will post 2.49 earnings per share for the current fiscal year.

A number of research firms recently commented on GDOT. Loop Capital raised their price target on shares of Green Dot to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Guggenheim reissued a “buy” rating and issued a $88.00 target price on shares of Green Dot in a report on Thursday, August 9th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $88.00 target price on shares of Green Dot in a report on Thursday, August 9th. SunTrust Banks raised their target price on shares of Green Dot to $100.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Deutsche Bank set a $79.00 target price on shares of Green Dot and gave the company a “hold” rating in a report on Thursday, November 8th. Five 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 stock. The stock currently has an average rating of “Buy” and an average price target of $91.33.

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About Green Dot

Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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Institutional Ownership by Quarter for Green Dot (NYSE:GDOT)

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