Steven W. Streit Sells 29,580 Shares of Green Dot Co. (GDOT) Stock

Green Dot Co. (NYSE:GDOT) insider Steven W. Streit sold 29,580 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $84.76, for a total transaction of $2,507,200.80. Following the sale, the insider now directly owns 84,519 shares of the company’s stock, valued at approximately $7,163,830.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of GDOT traded down $7.22 during mid-day trading on Friday, reaching $85.62. The stock had a trading volume of 27,948 shares, compared to its average volume of 435,764. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. Green Dot Co. has a 52-week low of $54.08 and a 52-week high of $93.00. The firm has a market capitalization of $4.23 billion, a P/E ratio of 54.24 and a beta of 1.06.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.13. The business had revenue of $230.58 million for the quarter, compared to analysts’ expectations of $223.95 million. Green Dot had a net margin of 12.73% and a return on equity of 14.26%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. Equities research analysts predict that Green Dot Co. will post 2.4 earnings per share for the current fiscal year.

GDOT has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Green Dot from $67.00 to $73.00 and gave the stock a “$81.43” rating in a report on Thursday, July 19th. Guggenheim reaffirmed a “buy” rating and set a $88.00 target price on shares of Green Dot in a report on Thursday, August 9th. Loop Capital upped their target price on shares of Green Dot to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Jefferies Financial Group upped their target price on shares of Green Dot from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Citigroup upped their target price on shares of Green Dot from $77.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $88.73.

Several institutional investors and hedge funds have recently modified their holdings of GDOT. James Investment Research Inc. acquired a new stake in shares of Green Dot during the second quarter worth about $101,000. Bank of Montreal Can acquired a new stake in Green Dot in the second quarter valued at approximately $165,000. Harvest Fund Management Co. Ltd acquired a new stake in Green Dot in the third quarter valued at approximately $165,000. Everence Capital Management Inc. acquired a new stake in Green Dot in the second quarter valued at approximately $228,000. Finally, Adviser Investments LLC raised its holdings in Green Dot by 361.8% in the second quarter. Adviser Investments LLC now owns 3,450 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 2,703 shares in the last quarter. 84.62% of the stock is currently owned by institutional investors and hedge funds.

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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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