Dave (NASDAQ:DAVE) Shares Down 9.5% - Time to Sell?

Dave Inc. (NASDAQ:DAVE - Get Free Report)'s stock price was down 9.5% during trading on Tuesday . The company traded as low as $197.76 and last traded at $193.78. Approximately 229,989 shares changed hands during trading, a decline of 49% from the average daily volume of 447,456 shares. The stock had previously closed at $214.05.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JMP Securities set a $260.00 price target on shares of Dave and gave the stock a "market outperform" rating in a research note on Monday. Piper Sandler reissued a "neutral" rating on shares of Dave in a report on Tuesday, June 10th. Canaccord Genuity Group boosted their price target 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 raised shares of Dave from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Citigroup restated an "outperform" rating on shares of Dave in a research note on Monday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Dave currently has an average rating of "Moderate Buy" and a consensus price target of $237.50.

Dave Stock Up 6.9%

The firm has a market cap of $2.91 billion, a PE ratio of 60.08 and a beta of 3.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 8.59 and a current ratio of 8.59. The company's 50-day simple moving average is $218.05 and its two-hundred day simple moving average is $135.64.

Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts predict that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Yadin Rozov sold 5,500 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $206.94, for a total transaction of $1,138,170.00. Following the sale, the director owned 95,678 shares of the company's stock, valued at $19,799,605.32. This trade represents a 5.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason Wilk sold 172,667 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $211.95, for a total transaction of $36,596,770.65. Following the sale, the chief executive officer directly owned 225,411 shares in the company, valued at approximately $47,775,861.45. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 294,960 shares of company stock valued at $62,575,325 in the last quarter. 28.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dave

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pallas Capital Advisors LLC bought a new position in Dave in the 2nd quarter worth $227,000. Baader Bank Aktiengesellschaft purchased a new position in Dave during the second quarter valued at approximately $591,000. Harbour Capital Advisors LLC purchased a new position in Dave during the second quarter valued at approximately $621,000. Wealth Enhancement Advisory Services LLC purchased a new position in Dave during the second quarter valued at approximately $656,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Dave during the second quarter valued at approximately $2,870,000. 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.