Insider Selling: Green Dot Co. (NYSE:GDOT) Major Shareholder Sells 331,339 Shares of Stock

Green Dot Co. (NYSE:GDOT) major shareholder Topline Capital Partners, Lp sold 331,339 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.54, for a total transaction of $3,492,313.06. Following the completion of the transaction, the insider now directly owns 5,376,787 shares of the company’s stock, valued at $56,671,334.98. This represents a 5.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Topline Capital Partners, Lp also recently made the following trade(s):

• On Friday, November 8th, Topline Capital Partners, Lp purchased 135,123 shares of Green Dot stock. The stock was bought at an average cost of $10.94 per share, for a total transaction of $1,478,245.62.

Green Dot Stock Performance

GDOT stock traded up $0.20 during trading on Tuesday, reaching $10.64. 993,654 shares of the stock were exchanged, compared to its average volume of 547,047. The stock has a 50 day simple moving average of $10.95 and a 200-day simple moving average of $10.62. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Green Dot Co. has a twelve month low of $7.70 and a twelve month high of $13.58. The company has a market capitalization of $572.29 million, a P/E ratio of -10.13 and a beta of 0.90.

Analysts Set New Price Targets

Several brokerages recently weighed in on GDOT. Barclays raised their price objective on shares of Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, September 23rd. Craig Hallum boosted their target price on Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its position in Green Dot by 44.3% in the second quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,214 shares during the period. Point72 Asset Management L.P. boosted its position in Green Dot by 7.3% in the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock valued at $200,000 after buying an additional 1,430 shares in the last quarter. Amalgamated Bank grew its stake in Green Dot by 14.0% during the third quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider’s stock worth $183,000 after buying an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Green Dot by 12.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock worth $200,000 after buying an additional 2,331 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Green Dot in the second quarter valued at approximately $25,000. Institutional investors and hedge funds 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.