Dave Inc. (NASDAQ:DAVE) Short Interest Update

Key Points

• Dave Inc. experienced a **23% increase** in short interest, totaling **1,390,000 shares** by the end of August, indicating rising investor skepticism about the stock.
• Insider trading revealed that **CEO Jason Wilk** and **Director Yadin Rozov** sold a combined **30,019 shares** valued at over **$6.4 million**, reflecting a decrease in their ownership stakes.
• Despite recent insider sales, analysts maintain a consensus rating of **"Moderate Buy"** for Dave Inc., with an average target price of **$262.17**, suggesting potential upside for investors.

Dave Inc. (NASDAQ:DAVE - Get Free Report) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,390,000 shares, an increase of 23.0% from the August 15th total of 1,130,000 shares. Based on an average daily trading volume, of 568,800 shares, the short-interest ratio is presently 2.4 days. Approximately 13.7% of the shares of the company are short sold. Approximately 13.7% of the shares of the company are short sold. Based on an average daily trading volume, of 568,800 shares, the short-interest ratio is presently 2.4 days.

Dave Stock Up 1.7%

NASDAQ:DAVE traded up $4.02 during trading hours on Monday, reaching $242.56. The company's stock had a trading volume of 498,250 shares, compared to its average volume of 506,228. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 64.17 and a beta of 3.93. Dave has a one year low of $37.44 and a one year high of $286.45. The business's 50-day moving average is $208.95 and its 200-day moving average is $171.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 9.51 and a quick ratio of 9.51.

Dave announced that its Board of Directors has initiated a share buyback program on Wednesday, August 13th that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the fintech company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DAVE shares. Benchmark reiterated a "buy" rating and set a $320.00 price objective on shares of Dave in a research note on Monday, July 14th. Barrington Research restated an "outperform" rating and set a $290.00 price target on shares of Dave in a research report on Monday, August 18th. Piper Sandler restated a "neutral" rating on shares of Dave in a research note on Tuesday, June 10th. Wall Street Zen lowered shares of Dave from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Dave in a research note on Tuesday, June 10th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.17.

Insiders Place Their Bets

In other Dave news, Director Imran Khan sold 39,534 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $223.13, for a total transaction of $8,821,221.42. Following the transaction, the director owned 79,110 shares of the company's stock, valued at $17,651,814.30. This trade represents a 33.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yadin Rozov sold 14,660 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $199.54, for a total value of $2,925,256.40. Following the transaction, the director directly owned 79,923 shares in the company, valued at approximately $15,947,835.42. This represents a 15.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,943 shares of company stock valued at $50,301,987 in the last quarter. Insiders own 28.48% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DAVE. Osaic Holdings Inc. boosted its holdings in Dave by 4,341.4% in the 2nd quarter. Osaic Holdings Inc. now owns 13,724 shares of the fintech company's stock valued at $3,683,000 after purchasing an additional 13,415 shares during the period. Cim LLC bought a new stake in Dave in the 2nd quarter valued at $632,000. FORA Capital LLC bought a new stake in Dave in the 2nd quarter valued at $1,758,000. WealthCollab LLC bought a new stake in Dave in the 2nd quarter valued at $30,000. Finally, Tenzing Global Management LLC bought a new stake in Dave in the 2nd quarter valued at $6,442,000. 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.