Future Fund LLC acquired a new position in shares of Dave Inc. (NASDAQ:DAVE – Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,280 shares of the fintech company’s stock, valued at approximately $2,055,000.
Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Dave by 22.7% during the third quarter. Principal Financial Group Inc. now owns 67,792 shares of the fintech company’s stock worth $13,514,000 after buying an additional 12,555 shares in the last quarter. SG Americas Securities LLC grew its stake in Dave by 2,267.1% during the fourth quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company’s stock worth $19,606,000 after buying an additional 84,811 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Dave during the third quarter worth about $1,826,000. Wilson Asset Management International PTY Ltd. acquired a new stake in Dave during the third quarter worth about $1,561,000. Finally, Pictet Asset Management Holding SA grew its stake in Dave by 372.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company’s stock worth $1,293,000 after buying an additional 4,604 shares in the last quarter. 18.01% of the stock is currently owned by institutional investors and hedge funds.
Key Dave News
Here are the key news stories impacting Dave this week:
- Positive Sentiment: Dave Inc. will be added to the S&P SmallCap 600 Index on June 1, a milestone that can increase institutional visibility and passive fund buying. Dave To Join S&P SmallCap 600 Index
- Positive Sentiment: UBS began coverage of Dave with a buy rating and a $300 target, signaling continued confidence in the stock’s upside. UBS coverage update
- Positive Sentiment: Recent commentary also pointed to Dave as being in the “winner’s circle” of fintech, adding to the constructive sentiment around the name. Seeking Alpha article
- Neutral Sentiment: Other headlines in the feed were unrelated to Dave Inc.’s core business, including stories about Dave’s Hot Chicken, Dave & Buster’s, and public figures named Dave, and are unlikely to materially affect DAVE shares.
Dave Stock Up 5.1%
Dave (NASDAQ:DAVE – Get Free Report) last posted its earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, topping the consensus estimate of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The business had revenue of $158.40 million for the quarter, compared to the consensus estimate of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, research analysts anticipate that Dave Inc. will post 14.7 earnings per share for the current year.
Dave announced that its board has approved a stock repurchase program on Monday, March 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the fintech company to purchase up to 11.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on DAVE. William Blair reiterated an “accumulate” rating on shares of Dave in a research note on Friday, March 13th. Keefe, Bruyette & Woods increased their price objective on shares of Dave from $295.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Lake Street Capital restated a “buy” rating and issued a $332.00 price target on shares of Dave in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Dave from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, B. Riley Financial raised their price target on shares of Dave from $358.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dave currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.40.
View Our Latest Stock Analysis on Dave
Dave Company Profile
Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.
At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.
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