Insider Selling: Green Dot Corporation (NYSE:GDOT) Insider Sells 27,931 Shares of Stock

Key Points

• Insider Christian Devin Ruppel sold 27,931 shares of Green Dot Corporation at an average price of $12.39, totaling approximately $346,065, reducing their ownership by 10.97%.
• Green Dot reported earnings of $0.40 per share for the last quarter, surpassing expectations by $0.23, while revenue increased by 23.9% compared to the previous year.
• Recent analyst ratings show a shift in sentiment, with the average target price raised to $13.00 and a consensus rating of "Moderate Buy."

Green Dot Corporation (NYSE:GDOT - Get Free Report) insider Christian Devin Ruppel sold 27,931 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $12.39, for a total value of $346,065.09. Following the transaction, the insider owned 226,656 shares in the company, valued at $2,808,267.84. This trade represents a 10.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Green Dot Price Performance

Shares of GDOT stock traded up $0.39 during mid-day trading on Monday, reaching $13.67. The stock had a trading volume of 100,309 shares, compared to its average volume of 859,979. Green Dot Corporation has a 12-month low of $6.12 and a 12-month high of $14.27. The company has a market cap of $750.35 million, a P/E ratio of -31.04 and a beta of 0.75. The business has a 50-day simple moving average of $10.64 and a 200 day simple moving average of $9.18. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.07.

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

Wall Street Analysts Forecast Growth

GDOT has been the topic of several research reports. Northland Securities set a $16.00 price target on shares of Green Dot in a research note on Tuesday, August 12th. Keefe, Bruyette & Woods upped their price target on Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Wall Street Zen raised Green Dot from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Barclays increased their price target on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Green Dot currently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Institutional Trading of Green Dot

A number of institutional investors have recently modified their holdings of the company. Virtus Advisers LLC purchased a new position in Green Dot in the second quarter valued at approximately $33,000. Brooklyn Investment Group raised its position in shares of Green Dot by 350,400.0% in the 1st quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 3,504 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Green Dot by 18.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider's stock worth $59,000 after buying an additional 861 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Green Dot by 152.0% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after buying an additional 3,416 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Green Dot by 23.1% during the second quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider's stock worth $70,000 after buying an additional 1,221 shares in the last quarter. Hedge funds and other institutional investors own 92.56% of the company's stock.

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.