Charles Schwab Investment Management Inc. Has $6.82 Million Stock Holdings in Green Dot Co. (NYSE:GDOT)

Charles Schwab Investment Management Inc. reduced its position in shares of Green Dot Co. (NYSE:GDOT) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 640,654 shares of the financial services provider’s stock after selling 93,881 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Green Dot were worth $6,817,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in Green Dot during the fourth quarter valued at about $294,000. Illinois Municipal Retirement Fund raised its holdings in Green Dot by 12.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 27,070 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 2,954 shares during the period. New York State Common Retirement Fund lifted its position in shares of Green Dot by 63.1% during the fourth quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 4,600 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Green Dot by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 260,772 shares of the financial services provider’s stock worth $2,775,000 after purchasing an additional 7,642 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Green Dot by 5.1% in the 4th quarter. Empowered Funds LLC now owns 185,482 shares of the financial services provider’s stock valued at $1,974,000 after purchasing an additional 9,044 shares during the period. 92.56% of the stock is currently owned by institutional investors.

Insider Activity at Green Dot

In other news, major shareholder Topline Capital Partners, Lp sold 331,339 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Topline Capital Management, Ll sold 380,611 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $10.44, for a total transaction of $3,973,578.84. Following the transaction, the insider now owns 5,708,126 shares in the company, valued at $59,592,835.44. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,180 shares of company stock valued at $10,071,696 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GDOT. Barclays lowered their target price on shares of Green Dot from $10.00 to $7.00 and set an “underweight” rating on the stock in a research note on Monday, March 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Green Dot from $12.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Finally, Craig Hallum upgraded Green Dot from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday, March 14th.

Green Dot Stock Up 0.7 %

NYSE:GDOT opened at $7.89 on Tuesday. Green Dot Co. has a 1-year low of $6.12 and a 1-year high of $13.58. 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 firm’s 50-day moving average price is $8.37 and its 200-day moving average price is $10.08. The company has a market capitalization of $427.60 million, a PE ratio of -7.51 and a beta of 1.06.

Green Dot Company 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.