Assenagon Asset Management S.A. Trims Stock Position in Green Dot Corporation $GDOT

Key Points

• Assenagon Asset Management S.A. reduced its stake in Green Dot Corporation by 4.7%, now owning about 0.69% of the company, worth approximately $4.06 million.
• Several analysts have upgraded their ratings and price targets for Green Dot, with the consensus rating currently at "Moderate Buy" and a price target of approximately $13.00.
• Green Dot recently reported earnings of $0.40 EPS, exceeding expectations, with revenue rising 23.9% year-over-year.

Assenagon Asset Management S.A. trimmed its stake in shares of Green Dot Corporation (NYSE:GDOT - Free Report) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,703 shares of the financial services provider's stock after selling 18,690 shares during the quarter. Assenagon Asset Management S.A. owned about 0.69% of Green Dot worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Green Dot during the first quarter worth $96,000. DLD Asset Management LP purchased a new position in Green Dot during the 1st quarter worth $549,000. Strs Ohio acquired a new stake in shares of Green Dot in the 1st quarter worth $603,000. XTX Topco Ltd boosted its holdings in shares of Green Dot by 436.8% in the first quarter. XTX Topco Ltd now owns 230,175 shares of the financial services provider's stock valued at $1,943,000 after acquiring an additional 187,293 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Green Dot during the first quarter worth about $507,000. Institutional investors and hedge funds own 92.56% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GDOT shares. Keefe, Bruyette & Woods raised their price objective on shares of Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a research report on Friday, July 11th. Northland Securities set a $16.00 price target on Green Dot in a report on Tuesday, August 12th. Wall Street Zen upgraded Green Dot from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Zacks Research upgraded Green Dot from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Green Dot Stock Down 0.9%

GDOT opened at $14.67 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $812.29 million, a price-to-earnings ratio of -33.33 and a beta of 0.77. Green Dot Corporation has a one year low of $6.12 and a one year high of $15.41. The business's fifty day moving average is $12.56 and its two-hundred day moving average is $10.21.

Green Dot (NYSE:GDOT - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.23. The business had revenue of $501.16 million during the quarter, compared to the consensus estimate of $496.49 million. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.The business's revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. Analysts anticipate that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Insider Activity at Green Dot

In other news, insider Christian Devin Ruppel sold 27,931 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $12.39, for a total transaction of $346,065.09. Following the completion of the transaction, the insider directly owned 226,656 shares of the company's stock, valued at $2,808,267.84. This trade represents a 10.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.

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