Green Dot Co. (GDOT) CEO Steven W. Streit Sells 7,701 Shares

Green Dot Co. (NYSE:GDOT) CEO Steven W. Streit sold 7,701 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $61.68, for a total transaction of $474,997.68. Following the completion of the sale, the chief executive officer now owns 54,110 shares of the company’s stock, valued at approximately $3,337,504.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

GDOT traded down $0.57 during mid-day trading on Monday, reaching $62.12. 457,700 shares of the stock were exchanged, compared to its average volume of 793,022. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 24.55 and a beta of 0.75. Green Dot Co. has a 1 year low of $56.23 and a 1 year high of $93.00.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, February 20th. The financial services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.25. Green Dot had a net margin of 11.39% and a return on equity of 15.88%. The company had revenue of $237.83 million for the quarter, compared to the consensus estimate of $235.80 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Green Dot Co. will post 2.81 EPS for the current fiscal year.

A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. ValuEngine downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd. SunTrust Banks cut their target price on shares of Green Dot to $90.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Keefe, Bruyette & Woods upgraded shares of Green Dot from a “market perform” rating to an “outperform” rating in a report on Monday, April 1st. Finally, Needham & Company LLC started coverage on shares of Green Dot in a report on Friday. They set a “buy” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $90.92.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Green Dot by 7.1% in the third quarter. BlackRock Inc. now owns 7,745,801 shares of the financial services provider’s stock worth $687,983,000 after buying an additional 514,669 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Green Dot by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,670,625 shares of the financial services provider’s stock valued at $503,665,000 after buying an additional 71,806 shares during the last quarter. Vanguard Group Inc boosted its position in Green Dot by 1.3% in the third quarter. Vanguard Group Inc now owns 5,670,625 shares of the financial services provider’s stock worth $503,665,000 after purchasing an additional 71,806 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Green Dot by 1.6% in the fourth quarter. Eagle Asset Management Inc. now owns 1,312,523 shares of the financial services provider’s stock worth $104,371,000 after purchasing an additional 20,758 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Green Dot by 33.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,186,853 shares of the financial services provider’s stock worth $94,379,000 after purchasing an additional 297,348 shares during the last quarter. Hedge funds and other institutional investors own 88.17% of the company’s stock.

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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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