Insider Selling: Green Dot Co. (GDOT) Insider Sells $1,228,580.40 in Stock
Green Dot Co. (NYSE:GDOT) insider Steven W. Streit sold 20,490 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.96, for a total transaction of $1,228,580.40. Following the completion of the transaction, the insider now directly owns 176,621 shares in the company, valued at approximately $10,590,195.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Green Dot Co. (NYSE:GDOT) opened at $61.21 on Friday. Green Dot Co. has a 12 month low of $23.39 and a 12 month high of $65.88. The stock has a market cap of $3,110.69, a price-to-earnings ratio of 35.80 and a beta of 0.96. 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 announced its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.14. The business had revenue of $201.60 million during the quarter, compared to analysts’ expectations of $191.33 million. Green Dot had a net margin of 8.61% and a return on equity of 12.55%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. analysts forecast that Green Dot Co. will post 1.71 earnings per share for the current fiscal year.
GDOT has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Green Dot from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Monday, November 13th. BTIG Research raised shares of Green Dot from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, November 8th. Citigroup cut shares of Green Dot from a “buy” rating to a “neutral” rating and set a $66.00 price objective for the company. in a research note on Monday, November 13th. Deutsche Bank upped their price objective on shares of Green Dot from $42.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Finally, BidaskClub raised shares of Green Dot from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $53.36.
A number of institutional investors and hedge funds have recently made changes to their positions in GDOT. Rothschild Asset Management Inc. purchased a new stake in Green Dot during the 3rd quarter valued at $29,051,000. Renaissance Technologies LLC boosted its position in Green Dot by 57.4% during the 2nd quarter. Renaissance Technologies LLC now owns 821,842 shares of the financial services provider’s stock valued at $31,666,000 after buying an additional 299,842 shares during the period. JPMorgan Chase & Co. boosted its position in Green Dot by 202.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 439,593 shares of the financial services provider’s stock valued at $16,937,000 after buying an additional 294,121 shares during the period. GMT Capital Corp purchased a new stake in Green Dot during the 3rd quarter valued at $13,178,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Green Dot during the 3rd quarter valued at $7,420,000. 79.26% of the stock is owned by institutional investors and hedge funds.
About Green Dot
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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