118,077 Shares in Dave Inc. $DAVE Bought by Estuary Capital Management LP

Key Points

• Estuary Capital Management acquired 118,077 Dave shares valued at approximately $20.6 million, giving it a 0.93% stake and making Dave its 14th-largest portfolio holding. Institutional investors collectively own 18.01% of the company.
• Analyst sentiment remains positive: Dave has a consensus “Buy” rating and a $379.40 average price target, with UBS and Keefe, Bruyette & Woods recently raising their targets to $470 and $485, respectively.
• Dave reported quarterly adjusted EPS of $3.64, exceeding estimates by $0.78, while revenue reached $158.41 million. The stock opened at $405.65, near its 52-week high of $458.25, although the CEO and a director recently sold shares.

Estuary Capital Management LP acquired a new position in Dave Inc. (NASDAQ:DAVE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 118,077 shares of the fintech company's stock, valued at approximately $20,556,000. Dave accounts for approximately 3.4% of Estuary Capital Management LP's investment portfolio, making the stock its 14th biggest position. Estuary Capital Management LP owned approximately 0.93% of Dave at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in shares of Dave by 819.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company's stock worth $41,666,000 after buying an additional 186,273 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Dave in the 4th quarter valued at about $27,874,000. Wellington Management Group LLP grew its position in shares of Dave by 200.7% during the 3rd quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company's stock valued at $35,305,000 after buying an additional 118,203 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Dave by 29.2% during the 4th quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company's stock valued at $110,506,000 after buying an additional 112,700 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in Dave during the first quarter worth about $18,313,000. Institutional investors own 18.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DAVE. B. Riley Financial lifted their target price on Dave from $358.00 to $370.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Evercore started coverage on Dave in a research report on Wednesday, May 27th. They set a "hold" rating and a $260.00 price target on the stock. UBS Group raised their price target on Dave from $300.00 to $470.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Lake Street Capital restated a "buy" rating and set a $332.00 price objective on shares of Dave in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods upped their price objective on Dave from $340.00 to $485.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $379.40.

Insider Activity at Dave

In related news, Director Dan Preston sold 275 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total value of $68,103.75. Following the sale, the director directly owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the transaction, the chief executive officer owned 299,950 shares of the company's stock, valued at $82,501,247.50. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. 28.48% of the stock is owned by company insiders.

Dave Trading Up 0.7%

Dave stock opened at $405.65 on Tuesday. Dave Inc. has a 52-week low of $152.21 and a 52-week high of $458.25. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 26.09 and a beta of 3.82. The firm has a 50-day moving average price of $331.74 and a two-hundred day moving average price of $250.44.

Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. The company had revenue of $158.41 million for the quarter, compared to analyst estimates of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Sell-side analysts expect that Dave Inc. will post 15.66 earnings per share for the current year.

Dave Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave's offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.

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