Dave (NASDAQ:DAVE) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Dave Inc. (NASDAQ:DAVE - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $114.43 and traded as high as $207.00. Dave shares last traded at $200.88, with a volume of 817,779 shares trading hands.

Analysts Set New Price Targets

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

Dave Stock Up 1.8%

The stock has a market capitalization of $2.86 billion, a P/E ratio of 59.15 and a beta of 3.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59. The stock's fifty day moving average is $164.33 and its two-hundred day moving average is $116.89.

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 analysts' consensus estimates 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, research analysts predict that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Dave declared that its board has approved a share repurchase program on Monday, March 10th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the fintech company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Imran Khan sold 19,035 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $217.07, for a total value of $4,131,927.45. Following the completion of the transaction, the director now owns 98,885 shares of the company's stock, valued at approximately $21,464,966.95. This trade represents a 16.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael W. Pope sold 15,000 shares of the firm's 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 completion of the transaction, the director now directly owns 8,168 shares of the company's stock, valued at $1,762,817.76. This represents a 64.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,167 shares of company stock valued at $62,199,118. Company insiders own 28.48% of the company's stock.

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) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave as of its most recent SEC filing. 18.01% of the stock is currently owned by institutional investors.

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.