Bank of America Corp DE reduced its stake in Dave Inc. (NASDAQ:DAVE - Free Report) by 41.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,425 shares of the fintech company's stock after selling 33,859 shares during the period. Bank of America Corp DE owned 0.37% of Dave worth $8,256,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Brevan Howard Capital Management LP grew its position in shares of Dave by 1.6% in the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company's stock valued at $767,000 after purchasing an additional 62 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Dave by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company's stock worth $2,412,000 after purchasing an additional 65 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Dave by 2.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 3,908 shares of the fintech company's stock worth $865,000 after purchasing an additional 100 shares during the last quarter. Worth Venture Partners LLC lifted its holdings in Dave by 9.4% during the 3rd quarter. Worth Venture Partners LLC now owns 1,258 shares of the fintech company's stock worth $251,000 after purchasing an additional 108 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Dave by 3.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,933 shares of the fintech company's stock valued at $649,000 after purchasing an additional 109 shares during the period. 18.01% of the stock is owned by institutional investors.
Insider Activity at Dave
In other Dave news, Director Dan Preston sold 275 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the sale, the director owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jason Wilk sold 8,474 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the sale, the chief executive officer owned 299,950 shares in the company, valued at $82,501,247.50. This represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 23.59% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Weiss Ratings raised Dave from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Canaccord Genuity Group lifted their target price on Dave from $342.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Citigroup reissued an "outperform" rating on shares of Dave in a research report on Thursday, August 6th. Keefe, Bruyette & Woods upped their price target on shares of Dave from $485.00 to $490.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Finally, B. Riley Financial raised their price target on shares of Dave from $370.00 to $449.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $410.82.
Get Our Latest Stock Analysis on Dave
Dave Stock Performance
Shares of NASDAQ:DAVE opened at $354.79 on Tuesday. Dave Inc. has a 1 year low of $152.21 and a 1 year high of $458.25. The company's 50 day simple moving average is $369.49 and its 200 day simple moving average is $273.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.22 and a quick ratio of 4.22. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 23.01 and a beta of 3.83.
Dave (NASDAQ:DAVE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $3.44 by ($2.95). The business had revenue of $170.79 million for the quarter, compared to analyst estimates of $171.11 million. Dave had a return on equity of 77.46% and a net margin of 34.58%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, research analysts predict that Dave Inc. will post 13.71 EPS for the current fiscal year.
About Dave
(
Free Report)
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.
Further Reading
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