Bank of New York Mellon Corp Reduces Position in Green Dot Co. (NYSE:GDOT)

Bank of New York Mellon Corp trimmed its holdings in shares of Green Dot Co. (NYSE:GDOT - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,864 shares of the financial services provider's stock after selling 93,206 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Green Dot worth $4,404,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GDOT. Martingale Asset Management L P raised its stake in Green Dot by 3.7% in the 3rd quarter. Martingale Asset Management L P now owns 93,596 shares of the financial services provider's stock valued at $1,096,000 after purchasing an additional 3,300 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Green Dot by 63.1% in the 4th quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider's stock valued at $127,000 after buying an additional 4,600 shares in the last quarter. Intech Investment Management LLC grew its holdings in Green Dot by 33.1% in the 3rd quarter. Intech Investment Management LLC now owns 20,007 shares of the financial services provider's stock valued at $234,000 after buying an additional 4,977 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 valued at $2,775,000 after buying an additional 7,642 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Green Dot by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 176,438 shares of the financial services provider's stock valued at $2,066,000 after buying an additional 8,978 shares in the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts have issued reports on GDOT shares. Barclays dropped their target price on Green Dot from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Monday, March 3rd. Keefe, Bruyette & Woods lowered their price target on Green Dot from $12.00 to $10.00 and set a "market perform" rating for the company in a report on Friday, February 28th. Finally, Craig Hallum upgraded Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price target for the company in a report on Friday, March 14th.

Green Dot Stock Up 3.0 %

GDOT stock traded up $0.23 during mid-day trading on Friday, reaching $7.84. The company had a trading volume of 11,727,953 shares, compared to its average volume of 546,583. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $424.89 million, a price-to-earnings ratio of -7.46 and a beta of 1.06. The firm has a fifty day simple moving average of $8.39 and a 200 day simple moving average of $10.11. Green Dot Co. has a fifty-two week low of $6.12 and a fifty-two week high of $13.58.

Insider Transactions at Green Dot

In other news, insider Topline Capital Management, Ll sold 247,230 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $10.54, for a total transaction of $2,605,804.20. Following the sale, the insider now owns 6,088,737 shares of the company's stock, valued at approximately $64,175,287.98. This trade represents a 3.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Topline Capital Partners, Lp sold 331,339 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.54, for a total value of $3,492,313.06. Following the sale, the insider now directly owns 5,376,787 shares in the company, valued at $56,671,334.98. This trade represents a 5.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 959,180 shares of company stock valued at $10,071,696. Corporate insiders own 1.10% 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.