Topline Capital Partners (WA:CPAP), LP, a significant shareholder in Green Dot Corp (NYSE:NYSE:GDOT), recently executed substantial sales of the company's common stock. According to an SEC filing, the firm sold a total of 959,180 shares over three transactions conducted on December 27, December 30, and December 31, 2024. The shares were sold at prices ranging from $10.44 to $10.54 per share, resulting in a total transaction value of approximately $10.1 million. The transactions occurred as the stock trades near $10.64, with InvestingPro analysis indicating the company is currently undervalued.
Following these transactions, Topline Capital Partners retains ownership of 5,376,787 shares in Green Dot Corp. The sales were conducted as direct transactions, as indicated in the filing. While the company has faced profitability challenges in recent quarters, InvestingPro data shows analysts expect a return to profitability this year, with multiple additional insights available in the comprehensive Pro Research Report covering this $570 million market cap company.
In other recent news, Green Dot Corp. reported a strong third quarter in 2024, marking a 16% increase in non-GAAP revenue and a 19% rise in adjusted EBITDA compared to the previous year. This performance was highlighted in the earnings call led by CEO George Gresham and Senior Vice President Tim Willi. The company's new embedded finance platform, ARC, has shown success, contributing to the growth in active accounts for the first time since Q1 2021. Despite some challenges in the retail channel, Green Dot has increased its full-year revenue guidance to a range of $1.65 billion to $1.7 billion. However, the company has slightly adjusted its full-year adjusted EBITDA guidance downward. These are among the recent developments in the company's financial performance. Furthermore, Green Dot's B2B segment, driven by significant partnerships, expects a low 30% revenue growth in the fourth quarter. The company also anticipates modest revenue growth and improved adjusted EBITDA margins in the fourth quarter, with full-year adjusted EBITDA expected to be between $164 million and $166 million.
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