Green Dot (NYSE:GDOT) had its target price trimmed by Needham & Company LLC to $42.00 in a research report sent to investors on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the financial services provider’s stock.
A number of other equities research analysts have also commented on GDOT. Guggenheim lowered shares of Green Dot from a buy rating to a neutral rating in a report on Thursday, May 9th. Craig Hallum cut their target price on shares of Green Dot from $115.00 to $100.00 and set a buy rating on the stock in a research report on Thursday, May 9th. SunTrust Banks cut their target price on shares of Green Dot to $70.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Keefe, Bruyette & Woods downgraded shares of Green Dot from an outperform rating to a market perform rating and cut their target price for the company from $60.00 to $35.00 in a research report on Thursday. Finally, Citigroup downgraded shares of Green Dot from a buy rating to a neutral rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $65.38.
NYSE:GDOT traded up $2.40 during trading hours on Thursday, hitting $29.82. 3,564,400 shares of the company traded hands, compared to its average volume of 794,471. The company has a market capitalization of $2.46 billion, a PE ratio of 11.79 and a beta of 0.96. Green Dot has a twelve month low of $24.19 and a twelve month high of $93.00. The stock’s 50-day moving average price is $48.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.04 and a quick ratio of 1.04.
In related news, insider Konrad Alt sold 919 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $41.91, for a total value of $38,515.29. Following the completion of the transaction, the insider now owns 76,724 shares of the company’s stock, valued at $3,215,502.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Glinda Bridgforth-Hodges sold 6,787 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $47.43, for a total value of $321,907.41. Following the completion of the transaction, the director now directly owns 2,578 shares of the company’s stock, valued at approximately $122,274.54. The disclosure for this sale can be found here. Insiders have sold 13,238 shares of company stock valued at $630,772 in the last three months. Insiders own 7.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GDOT. Tortoise Index Solutions LLC acquired a new position in Green Dot in the first quarter valued at approximately $43,000. Manchester Capital Management LLC acquired a new position in shares of Green Dot during the first quarter worth approximately $53,000. FNY Investment Advisers LLC raised its position in shares of Green Dot by 708.8% during the first quarter. FNY Investment Advisers LLC now owns 1,100 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 964 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Green Dot during the second quarter worth approximately $68,000. Finally, Advisory Services Network LLC raised its position in shares of Green Dot by 81.8% during the second quarter. Advisory Services Network LLC now owns 2,000 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 900 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.
About Green Dot
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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