VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Dave Inc. (NASDAQ:DAVE – Free Report) by 38.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,600 shares of the fintech company’s stock after selling 3,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Dave were worth $1,800,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in Dave by 119.2% during the third quarter. Signaturefd LLC now owns 114 shares of the fintech company’s stock worth $37,000 after purchasing an additional 62 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Dave by 841.7% during the 3rd quarter. Sterling Capital Management LLC now owns 339 shares of the fintech company’s stock valued at $109,000 after purchasing an additional 303 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Dave by 1.5% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,812 shares of the fintech company’s stock valued at $583,000 after purchasing an additional 27 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Dave by 11.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 669 shares of the fintech company’s stock valued at $215,000 after purchasing an additional 68 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Dave by 12.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 412 shares of the fintech company’s stock valued at $132,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 18.01% of the company’s stock.
Dave Stock Performance
NASDAQ DAVE opened at $314.72 on Wednesday. The company has a 50-day simple moving average of $352.07 and a two-hundred day simple moving average of $287.57. Dave Inc. has a 12-month low of $152.21 and a 12-month high of $458.25. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 22.73 and a beta of 4.07. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93.
Dave (NASDAQ:DAVE – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The fintech company reported $0.49 EPS for the quarter, missing the consensus estimate of $3.44 by ($2.95). Dave had a return on equity of 77.46% and a net margin of 34.58%. The company had revenue of $170.79 million during the quarter, compared to analysts’ expectations of $171.11 million. On average, equities analysts forecast that Dave Inc. will post 13.04 EPS for the current year.
Key Stories Impacting Dave
Here are the key news stories impacting Dave this week:
- Positive Sentiment: Dave’s Q3 results were expected to benefit from stronger member activity and growth in ExtraCash, which could support revenue. Dave Q3 Earnings Coming Up: What to Expect From the Stock?
- Neutral Sentiment: Dave was expected to announce quarterly earnings Wednesday, putting the report and management’s outlook in focus for investors. Dave (DAVE) Expected to Announce Quarterly Earnings on Wednesday
- Negative Sentiment: The preview flagged higher spending and credit trends as potential pressures on margins, which could temper the benefit of customer and ExtraCash growth. Dave Q3 Earnings Coming Up: What to Expect From the Stock?
Analyst Ratings Changes
A number of analysts recently weighed in on the company. Canaccord Genuity Group boosted their target price on Dave from $342.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Piper Sandler initiated coverage on shares of Dave in a research report on Monday, August 17th. They set an “overweight” rating and a $390.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Dave in a research report on Tuesday, September 15th. They set an “overweight” rating and a $480.00 price target on the stock. Citigroup reissued an “outperform” rating on shares of Dave in a research note on Thursday, August 6th. Finally, B. Riley Financial boosted their price objective on shares of Dave from $370.00 to $449.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $433.25.
Read Our Latest Stock Report on Dave
Dave Company Profile
Dave Inc is a financial technology company that operates a digital banking platform in the United States. The company’s mobile app is designed to help members manage everyday finances, access funds between paychecks and build financial flexibility.
Its primary offerings include ExtraCash, an advance product intended to provide eligible members with access to a portion of their expected income, and Dave Spending, a debit account and associated payment card. Dave also provides budgeting tools, automated savings features through Dave Goals, and Side Hustle resources that help members identify potential ways to earn additional income.
Dave was founded in 2016 by Jason Wilk, who serves as chief executive officer.
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