Allspring Global Investments Holdings LLC Buys 2,074 Shares of Green Dot Co. (NYSE:GDOT)

Allspring Global Investments Holdings LLC increased its stake in Green Dot Co. (NYSE:GDOT) by 39.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,352 shares of the financial services provider’s stock after buying an additional 2,074 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Green Dot were worth $73,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Green Dot in the 3rd quarter worth about $363,000. Exchange Traded Concepts LLC bought a new stake in Green Dot in the third quarter worth about $364,000. Bailard Inc. bought a new stake in Green Dot in the third quarter worth about $547,000. New York State Teachers Retirement System boosted its position in shares of Green Dot by 5.5% during the third quarter. New York State Teachers Retirement System now owns 63,115 shares of the financial services provider’s stock valued at $879,000 after buying an additional 3,281 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Green Dot by 46.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,191 shares of the financial services provider’s stock valued at $156,000 after buying an additional 3,539 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Green Dot

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

Green Dot Price Performance

NYSE:GDOT opened at $8.97 on Tuesday. Green Dot Co. has a 1-year low of $7.30 and a 1-year high of $21.37. The company has a 50-day moving average of $8.64 and a 200 day moving average of $9.23. The firm has a market cap of $473.89 million, a PE ratio of 69.01 and a beta of 1.04.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $361.72 million during the quarter, compared to analysts’ expectations of $350.14 million. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. Sell-side analysts anticipate that Green Dot Co. will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GDOT. Truist Financial boosted their price objective on Green Dot from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, February 29th. StockNews.com upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods decreased their price objective on shares of Green Dot from $12.50 to $11.00 and set a “market perform” rating for the company in a report on Friday, April 5th. Finally, TheStreet downgraded shares of Green Dot from a “c-” rating to a “d” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Green Dot presently has a consensus rating of “Hold” and an average price target of $10.75.

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.