Baader Bank Aktiengesellschaft Makes New $591,000 Investment in Dave Inc. $DAVE

Key Points

• Baader Bank Aktiengesellschaft has acquired a stake in Dave Inc., purchasing 2,200 shares valued at approximately $591,000 during the second quarter.
• Recent analyst ratings indicate a generally positive outlook for Dave Inc., with a target price ranging from $179.00 to $320.00 and a consensus average rating of "Moderate Buy."
• Insider activity included a significant share sale by Director Imran Khan, who sold 39,534 shares worth over $8.8 million, representing a 33.32% decrease in his ownership position.

Baader Bank Aktiengesellschaft acquired a new stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,200 shares of the fintech company's stock, valued at approximately $591,000.

Separately, Pallas Capital Advisors LLC bought a new stake in shares of Dave during the second quarter worth $227,000. Hedge funds and other institutional investors own 18.01% of the company's stock.

Insider Buying and Selling

In related news, CEO Jason Wilk sold 2,948 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $230.01, for a total value of $678,069.48. Following the sale, the chief executive officer owned 217,854 shares in the company, valued at $50,108,598.54. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Imran Khan sold 8,535 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $217.70, for a total transaction of $1,858,069.50. Following the completion of the sale, the director owned 48,885 shares in the company, valued at $10,642,264.50. This represents a 14.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,043 shares of company stock worth $31,865,930 in the last quarter. Insiders own 28.48% of the company's stock.

Dave Stock Up 4.7%

Shares of NASDAQ DAVE traded up $10.74 during trading on Friday, hitting $238.54. 1,104,883 shares of the company traded hands, compared to its average volume of 368,327. The business's fifty day moving average is $208.95 and its 200 day moving average is $170.61. Dave Inc. has a fifty-two week low of $37.44 and a fifty-two week high of $286.45. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 63.11 and a beta of 3.93. The company has a debt-to-equity ratio of 0.35, a quick ratio of 9.51 and a current ratio of 9.51.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. B. Riley boosted their target price on shares of Dave from $239.00 to $277.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Dave in a research note on Tuesday, June 10th. Canaccord Genuity Group boosted their target price on shares of Dave from $179.00 to $229.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Citigroup reaffirmed an "outperform" rating on shares of Dave in a research note on Thursday, August 7th. Finally, Piper Sandler reissued a "neutral" rating on shares of Dave in a research note on Tuesday, June 10th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

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.