Dave Inc (NASDAQ:DAVE - Get Free Report) Director Michael W. Pope sold 15,000 shares of the firm'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 transaction of $3,237,300.00. Following the completion of the sale, the director now owns 8,168 shares in the company, valued at approximately $1,762,817.76. The trade was a 64.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Dave Trading Down 5.7%
NASDAQ DAVE traded down $12.42 on Tuesday, reaching $204.26. The company had a trading volume of 439,460 shares, compared to its average volume of 436,814. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 65.26 and a beta of 3.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.81 and a quick ratio of 6.81. Dave Inc has a fifty-two week low of $28.31 and a fifty-two week high of $243.25. The business has a 50 day moving average of $152.19 and a two-hundred day moving average of $112.95.
Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The fintech company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $1.15. Dave had a return on equity of 17.16% and a net margin of 12.92%. Analysts forecast that Dave Inc will post 1.07 EPS for the current year.
Dave declared that its board has initiated a stock repurchase program on Monday, March 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the fintech company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC bought a new position in shares of Dave Inc (NASDAQ:DAVE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned about 0.33% of Dave as of its most recent SEC filing. 18.01% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on DAVE shares. Lake Street Capital upped their price objective on shares of Dave from $118.00 to $177.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Canaccord Genuity Group upped their price target on shares of Dave from $130.00 to $179.00 and gave the stock a "buy" rating in a report on Friday, May 9th. BMO Capital Markets reissued an "outperform" rating on shares of Dave in a report on Tuesday, June 10th. Wall Street Zen raised Dave from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, JMP Securities lifted their price target on Dave from $125.00 to $200.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $212.33.
Read Our Latest Report on Dave
About Dave
(
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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.
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