Charles Schwab Investment Management Inc. Buys 81,846 Shares of Green Dot Co. (NYSE:GDOT)

Charles Schwab Investment Management Inc. increased its stake in shares of Green Dot Co. (NYSE:GDOTFree Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 749,075 shares of the financial services provider’s stock after acquiring an additional 81,846 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.43% of Green Dot worth $7,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Green Dot during the fourth quarter valued at $53,000. PNC Financial Services Group Inc. raised its stake in Green Dot by 65.5% during the third quarter. PNC Financial Services Group Inc. now owns 6,152 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 2,434 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Green Dot by 39.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 2,074 shares in the last quarter. Caxton Associates LP purchased a new stake in Green Dot during the third quarter valued at $141,000. Finally, Carmel Capital Partners LLC raised its stake in Green Dot by 701.2% during the fourth quarter. Carmel Capital Partners LLC now owns 14,077 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 12,320 shares in the last quarter. Institutional investors own 92.56% of the company’s stock.

Green Dot Trading Down 0.9 %

Shares of GDOT opened at $9.91 on Friday. Green Dot Co. has a twelve month low of $7.30 and a twelve month high of $21.37. The company has a market cap of $527.31 million, a P/E ratio of -21.09 and a beta of 1.03. The company’s fifty day simple moving average is $9.19 and its 200-day simple moving average is $8.99.

Green Dot (NYSE:GDOTGet Free Report) last announced its earnings results on Thursday, May 9th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.15). Green Dot had a negative net margin of 1.60% and a positive return on equity of 4.48%. The firm had revenue of $447.42 million during the quarter, compared to analysts’ expectations of $415.70 million. Analysts predict that Green Dot Co. will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CRO Christian Devin Ruppel purchased 33,000 shares of Green Dot stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $9.06 per share, with a total value of $298,980.00. Following the purchase, the executive now directly owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Christian Devin Ruppel purchased 33,000 shares of Green Dot stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $9.06 per share, with a total value of $298,980.00. Following the purchase, the executive now directly owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Principal Co Lp Starboard sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total transaction of $1,225,500.00. Following the completion of the transaction, the insider now directly owns 276,595 shares in the company, valued at approximately $2,259,781.15. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Green Dot from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Truist Financial upped their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Green Dot from $12.50 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.75.

View Our Latest Research Report on GDOT

Green Dot Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Green Dot (NYSE:GDOT)

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