Delta Global Management LP bought a new stake in shares of Dave Inc. (NASDAQ:DAVE – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,452 shares of the fintech company’s stock, valued at approximately $543,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. WealthCollab LLC bought a new position in shares of Dave in the second quarter worth approximately $30,000. National Bank of Canada FI bought a new position in shares of Dave in the third quarter worth approximately $30,000. Blue Trust Inc. lifted its stake in shares of Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after buying an additional 79 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Dave in the fourth quarter worth approximately $36,000. Finally, Westend Capital Management LLC lifted its stake in shares of Dave by 100.0% in the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after buying an additional 100 shares in the last quarter. Institutional investors own 18.01% of the company’s stock.
Dave Stock Performance
DAVE stock opened at $298.52 on Wednesday. The company has a market cap of $3.79 billion, a P/E ratio of 19.20 and a beta of 3.87. Dave Inc. has a 1 year low of $152.21 and a 1 year high of $318.66. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. The stock’s fifty day moving average price is $249.63 and its 200-day moving average price is $216.17.
Dave declared that its board has authorized a share repurchase plan on Monday, March 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the fintech company to buy up to 11.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Dave
In related news, Director Dan Preston sold 275 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the completion of the transaction, the director directly owned 5,466 shares in the company, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason Wilk sold 8,474 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total value of $2,330,773.70. Following the transaction, the chief executive officer owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 28.48% of the company’s stock.
Key Dave News
Here are the key news stories impacting Dave this week:
- Positive Sentiment: Zacks highlighted Dave Inc. (DAVE) as trading below its industry P/E average despite nearly 80% return on equity, strong margins, low debt, and rising member growth, suggesting the market may be underestimating earnings power. Article Title
- Positive Sentiment: DAVE was also named among “relative price strength winners,” with the article citing firmer market sentiment and positive earnings estimate revisions as tailwinds. Article Title
- Positive Sentiment: Another Zacks piece listed Dave Inc. (DAVE) among high-flying tech services stocks with double-digit year-to-date gains, reinforcing the stock’s momentum story. Article Title
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Weiss Ratings upgraded Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. Citigroup restated an “outperform” rating on shares of Dave in a research note on Wednesday, May 6th. Benchmark restated a “buy” rating on shares of Dave in a research note on Friday, May 29th. UBS Group initiated coverage on Dave in a research note on Tuesday, May 26th. They issued a “buy” rating and a $300.00 price target for the company. Finally, Lake Street Capital reiterated a “buy” rating and issued a $332.00 price target on shares of Dave in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $325.40.
Check Out Our Latest Report on DAVE
About Dave
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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