Green Dot (NYSE:GDOT) Stock Price Down 4.7% - Here's What Happened

Key Points

• Green Dot Corporation's shares fell by 4.7% during trading, with approximately 340,228 shares changing hands, significantly below the usual daily volume.
• Analysts have set a consensus price target of $13.00 for Green Dot, with ratings ranging from "underweight" to "strong buy" following various upgrades by firms like Barclays and Wall Street Zen.
• The company's financial performance was strong, reporting $0.40 earnings per share for the last quarter, exceeding expectations, while revenue increased by 23.9% year-over-year.

Shares of Green Dot Corporation (NYSE:GDOT - Get Free Report) dropped 4.7% on Friday . The stock traded as low as $13.19 and last traded at $13.15. Approximately 340,228 shares were traded during trading, a decline of 60% from the average daily volume of 859,116 shares. The stock had previously closed at $13.79.

Analyst Ratings Changes

GDOT has been the subject of several research analyst reports. Barclays increased their target price on shares of Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Northland Securities set a $16.00 price objective on shares of Green Dot in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Green Dot from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, 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 note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Green Dot has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Green Dot Stock Down 0.8%

The firm has a market cap of $747.78 million, a PE ratio of -30.96 and a beta of 0.75. 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 firm's 50-day moving average price is $10.78 and its two-hundred day moving average price is $9.25.

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

Insiders Place Their Bets

In related news, insider Christian Devin Ruppel sold 27,931 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total value of $346,065.09. Following the completion of the transaction, the insider directly owned 226,656 shares in the company, valued at approximately $2,808,267.84. This represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Green Dot

A number of institutional investors and hedge funds have recently bought and sold shares of GDOT. Topline Capital Management LLC purchased a new position in Green Dot in the 4th quarter worth approximately $57,209,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Green Dot by 403.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,223,123 shares of the financial services provider's stock valued at $13,185,000 after buying an additional 980,012 shares during the last quarter. Walmart Inc. purchased a new position in shares of Green Dot during the 4th quarter valued at approximately $10,374,000. Nuveen LLC purchased a new position in shares of Green Dot during the 1st quarter valued at approximately $5,901,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Green Dot by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,114,292 shares of the financial services provider's stock valued at $22,496,000 after buying an additional 363,831 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company's stock.

About Green Dot

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.