Dave Inc (NASDAQ:DAVE) Director Sells $17,094,950.10 in Stock

Dave Inc (NASDAQ:DAVE - Get Free Report) Director Imran Khan sold 80,965 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $211.14, for a total transaction of $17,094,950.10. Following the completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 Price Performance

DAVE stock traded down $12.42 on Tuesday, reaching $204.26. 439,460 shares of the company's stock were exchanged, compared to its average volume of 436,814. The stock has a fifty day moving average of $152.19 and a 200-day moving average of $112.95. The firm has a market cap of $2.72 billion, a PE ratio of 65.26 and a beta of 3.93. The company has a quick ratio of 6.81, a current ratio of 6.81 and a debt-to-equity ratio of 0.48. Dave Inc has a twelve month low of $28.31 and a twelve month high of $243.25.

Dave (NASDAQ:DAVE - Get Free Report) last issued its earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $0.82 by $1.15. Dave had a net margin of 12.92% and a return on equity of 17.16%. As a group, equities analysts predict that Dave Inc will post 1.07 EPS for the current fiscal year.

Dave announced that its board has approved a share buyback program on Monday, March 10th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the fintech company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Institutional Trading of Dave

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC acquired a new stake in Dave Inc (NASDAQ:DAVE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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 at the end of the most recent quarter. Institutional investors and hedge funds own 18.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. B. Riley lifted their target price on shares of Dave from $206.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Canaccord Genuity Group upped their target price on shares of Dave from $130.00 to $179.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen upgraded shares of Dave from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Piper Sandler reaffirmed a "neutral" rating on shares of Dave in a research report on Tuesday, June 10th. Finally, Benchmark cut Dave from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $212.33.

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.

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