Dave Inc. (NASDAQ:DAVE) Director Michael W. Pope Sells 15,000 Shares

Dave Inc. (NASDAQ:DAVE) Director Michael W. Pope sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $215.82, for a total value of $3,237,300.00. Following the completion of the transaction, the director now directly owns 8,168 shares of the company’s stock, valued at $1,762,817.76. This trade represents a 64.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Dave Price Performance

DAVE stock opened at $204.26 on Wednesday. The company has a market capitalization of $2.72 billion, a P/E ratio of 56.27 and a beta of 3.93. The business has a 50 day simple moving average of $154.52 and a 200-day simple moving average of $113.73. The company has a current ratio of 8.59, a quick ratio of 8.59 and a debt-to-equity ratio of 0.38. Dave Inc. has a twelve month low of $28.31 and a twelve month high of $243.25.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $1.15. Dave had a net margin of 13.75% and a return on equity of 34.85%. As a group, equities analysts anticipate that Dave Inc. will post 1.07 EPS for the current year.

Dave announced that its Board of Directors has authorized a stock repurchase program on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the fintech company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Dave

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC acquired a new position in shares of Dave Inc. (NASDAQ:DAVE) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 42,179 shares of the fintech company’s stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave at the end of the most recent quarter. Institutional investors own 18.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DAVE shares. Canaccord Genuity Group upped their target price on shares of Dave from $130.00 to $179.00 and gave the company a “buy” rating in a report on Friday, May 9th. Benchmark downgraded shares of Dave from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 10th. B. Riley upped their price objective on shares of Dave from $206.00 to $239.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. BMO Capital Markets restated an “outperform” rating on shares of Dave in a research note on Tuesday, June 10th. Finally, Piper Sandler reissued a “neutral” rating on shares of Dave in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.33.

Dave Company 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.