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

Dave Inc. (NASDAQ:DAVE - Get Free Report) Director Michael W. Pope sold 15,000 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $215.82, for a total transaction of $3,237,300.00. Following the transaction, the director now directly owns 8,168 shares of the company's stock, valued at $1,762,817.76. The trade was a 64.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Dave Stock Up 5.5%

Shares of Dave stock traded up $11.04 on Friday, reaching $211.92. 234,372 shares of the company were exchanged, compared to its average volume of 439,994. The stock's 50 day moving average price is $159.16 and its 200-day moving average price is $115.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59. Dave Inc. has a 1-year low of $28.31 and a 1-year high of $243.25. The company has a market cap of $2.83 billion, a P/E ratio of 58.38 and a beta of 3.93.

Dave (NASDAQ:DAVE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, topping the consensus estimate 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 forecast that Dave Inc. will post 1.07 EPS for the current year.

Dave announced that its Board of Directors has initiated a share buyback program on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the fintech company to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on DAVE. Barrington Research restated an "outperform" rating and set a $250.00 target price on shares of Dave in a report on Thursday, June 12th. Piper Sandler reissued a "neutral" rating on shares of Dave in a research note on Tuesday, June 10th. Lake Street Capital lifted their price objective on shares of Dave from $118.00 to $177.00 and gave the company a "buy" rating in a report on Friday, May 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Dave in a report on Tuesday, June 10th. Finally, JMP Securities raised their price target on shares of Dave from $125.00 to $200.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Dave presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.33.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC bought a new position in shares of Dave Inc. (NASDAQ:DAVE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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. Hedge funds and other institutional investors own 18.01% of the company's stock.

About Dave

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.