Dave Inc. (NASDAQ:DAVE) Director Imran Khan Sells 80,965 Shares

Dave Inc. (NASDAQ:DAVE - Get Free Report) Director Imran Khan sold 80,965 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $211.14, for a total transaction of $17,094,950.10. Following the transaction, the director now owns 98,886 shares of the company's stock, valued at approximately $20,878,790.04. This trade represents a 45.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Imran Khan also recently made the following trade(s):

• On Friday, June 13th, Imran Khan sold 19,035 shares of Dave stock. The stock was sold at an average price of $217.07, for a total value of $4,131,927.45.

Dave Stock Performance

Shares of NASDAQ:DAVE traded up $11.04 during midday trading on Friday, reaching $211.92. The company's stock had a trading volume of 234,372 shares, compared to its average volume of 439,994. The company has a quick ratio of 8.59, a current ratio of 8.59 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $159.16 and a 200 day moving average of $115.03. Dave Inc. has a twelve month low of $28.31 and a twelve month high of $243.25. The firm has a market capitalization of $2.83 billion, a PE 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, beating 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%. On average, equities analysts expect that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave declared that its Board of Directors has initiated a share buyback plan on Monday, March 10th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the fintech company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DAVE. Benchmark downgraded shares of Dave from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 10th. Canaccord Genuity Group upped their price target on shares of Dave from $130.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barrington Research reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Dave in a report on Thursday, June 12th. B. Riley raised their target price on Dave from $206.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Lake Street Capital lifted their price target on Dave from $118.00 to $177.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $212.33.

Institutional Investors Weigh In On Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC bought a new stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and 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 approximately 0.33% of Dave at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.01% of the company's stock.

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.