Leavell Investment Management Inc. Purchases 200 Shares of Dave Inc. $DAVE

Leavell Investment Management Inc. lifted its holdings in Dave Inc. (NASDAQ:DAVE) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,510 shares of the fintech company’s stock after buying an additional 200 shares during the period. Leavell Investment Management Inc.’s holdings in Dave were worth $1,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Silver Oak Wealth Advisors Services LLC bought a new stake in shares of Dave during the 2nd quarter valued at about $501,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Dave during the 2nd quarter worth approximately $913,000. Great Lakes Advisors LLC bought a new position in shares of Dave during the 1st quarter worth approximately $3,487,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Dave during the 2nd quarter worth approximately $591,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Dave in the 2nd quarter valued at $621,000. 18.01% of the stock is owned by institutional investors and hedge funds.

Dave Price Performance

DAVE opened at $248.67 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 9.51 and a quick ratio of 9.51. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 65.79 and a beta of 3.88. The firm’s fifty day moving average price is $212.16 and its two-hundred day moving average price is $195.19. Dave Inc. has a 1 year low of $37.44 and a 1 year high of $286.45.

Dave announced that its Board of Directors has approved a share buyback program on Wednesday, August 13th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the fintech company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Yadin Rozov sold 14,660 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $199.54, for a total value of $2,925,256.40. Following the transaction, the director owned 79,923 shares in the company, valued at $15,947,835.42. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason Wilk sold 81,693 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $230.28, for a total value of $18,812,264.04. Following the completion of the transaction, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at approximately $50,167,419.12. This represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,943 shares of company stock worth $50,301,987. 28.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on DAVE. Citigroup reaffirmed an “outperform” rating on shares of Dave in a research note on Thursday, August 7th. Zacks Research raised Dave from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Citizens Jmp raised their price objective on Dave from $280.00 to $300.00 and gave the company a “mkt outperform” rating in a research note on Friday, September 26th. Wall Street Zen cut shares of Dave from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Canaccord Genuity Group boosted their target price on shares of Dave from $179.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Dave presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.13.

Dave Profile

Dave, Inc is a digital banking service. Its products include a budgeting tool to help members manage their upcoming bills to avoid overspending, cash advances through its flagship ExtraCash product to help members avoid punitive overdraft fees, a Side Hustle product, where Dave helps connect members with supplemental work opportunities, and Dave Banking, a modern checking account experience with valuable tools for building long-term financial health.