Assenagon Asset Management S.A. Sells 100,507 Shares of Green Dot Co. (NYSE:GDOT)

Assenagon Asset Management S.A. lowered its position in Green Dot Co. (NYSE:GDOT) by 20.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 395,393 shares of the financial services provider’s stock after selling 100,507 shares during the period. Assenagon Asset Management S.A. owned 0.73% of Green Dot worth $3,337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GDOT. Empowered Funds LLC boosted its holdings in Green Dot by 5.1% in the fourth quarter. Empowered Funds LLC now owns 185,482 shares of the financial services provider’s stock worth $1,974,000 after acquiring an additional 9,044 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Green Dot by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 260,772 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 7,642 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Green Dot by 63.1% in the fourth quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 4,600 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Green Dot by 12.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 27,070 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 2,954 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Green Dot in the fourth quarter valued at approximately $294,000. Institutional investors own 92.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Craig Hallum upgraded Green Dot from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Friday, March 14th. Northland Capmk upgraded Green Dot from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. Wall Street Zen upgraded Green Dot from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Barclays raised their target price on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, May 12th. Finally, Keefe, Bruyette & Woods dropped their target price on Green Dot from $12.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Green Dot Stock Performance

NYSE:GDOT opened at $9.96 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.52 and a quick ratio of 0.52. The business has a fifty day simple moving average of $8.84 and a two-hundred day simple moving average of $8.96. Green Dot Co. has a 1 year low of $6.12 and a 1 year high of $13.58. The company has a market capitalization of $546.71 million, a P/E ratio of -9.49 and a beta of 0.73.

Green Dot (NYSE:GDOT) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.36. Green Dot had a positive return on equity of 3.84% and a negative net margin of 3.39%. The business had revenue of $555.96 million during the quarter, compared to the consensus estimate of $503.20 million. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, analysts expect that Green Dot Co. will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christian Devin Ruppel sold 10,189 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $11.00, for a total value of $112,079.00. Following the completion of the transaction, the insider now owns 253,139 shares in the company, valued at $2,784,529. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Green Dot 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.