Calamos Advisors LLC Has $6.24 Million Position in Dave Inc. $DAVE

Key Points

• Calamos Advisors cut its Dave position by 15.8% in the first quarter, leaving it with 35,826 shares valued at about $6.24 million. Institutional ownership in Dave remains significant, with hedge funds and other large investors still holding a meaningful stake.
• Dave reported strong quarterly results, including EPS of $3.64 versus estimates of $2.86 and revenue of $158.41 million versus expectations. The company also issued FY 2026 guidance of 16.25 to 16.75 EPS, underscoring bullish growth expectations.
• Analysts remain constructive on the stock, with several firms raising price targets and the consensus rating at Buy with an average target price of $379.40. The article also notes recent insider selling by CEO Jason Wilk and Director Dan Preston.

Calamos Advisors LLC decreased its stake in Dave Inc. (NASDAQ:DAVE - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,826 shares of the fintech company's stock after selling 6,724 shares during the period. Calamos Advisors LLC owned 0.26% of Dave worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Dave by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 685,839 shares of the fintech company's stock valued at $151,852,000 after acquiring an additional 30,546 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Dave by 29.2% in the 4th quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company's stock worth $110,506,000 after purchasing an additional 112,700 shares during the period. Geode Capital Management LLC lifted its position in shares of Dave by 31.1% in the 4th quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company's stock worth $70,483,000 after purchasing an additional 75,576 shares during the period. State Street Corp boosted its stake in shares of Dave by 10.6% in the 4th quarter. State Street Corp now owns 233,163 shares of the fintech company's stock valued at $51,625,000 after purchasing an additional 22,274 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Dave by 22.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 210,911 shares of the fintech company's stock valued at $46,698,000 after purchasing an additional 38,744 shares during the last quarter. 18.01% of the stock is currently owned by institutional investors.

Dave Stock Performance

NASDAQ:DAVE opened at $417.00 on Wednesday. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. Dave Inc. has a twelve month low of $152.21 and a twelve month high of $419.86. The company has a fifty day moving average of $298.85 and a 200-day moving average of $237.72. The firm has a market capitalization of $5.30 billion, a P/E ratio of 26.82 and a beta of 3.82.

Dave (NASDAQ:DAVE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.78. The business 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. As a group, sell-side analysts anticipate that Dave Inc. will post 15.45 EPS for the current year.

Insider Activity

In other news, CEO Jason Wilk sold 8,474 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 299,950 shares in the company, valued at $82,501,247.50. This trade represents a 2.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dan Preston sold 275 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the completion of the sale, the director directly owned 5,466 shares of the company's stock, valued at $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is currently owned by corporate insiders.

Dave News Summary

Here are the key news stories impacting Dave this week:

• Positive Sentiment: UBS raised its price target on Dave from $300 to $470 and kept a buy rating, reinforcing the view that the stock still has room to run after its strong recent move. Benzinga
• Positive Sentiment: Investors are also reacting to recent company-specific positives, including the appointment of a new CTO focused on AI underwriting and payments infrastructure, plus the transition of ExtraCash originations to Coastal Community Bank, which could reduce funding costs and free up liquidity. Quiver Quantitative
• Positive Sentiment: Recent articles have highlighted Dave’s strong 2026 operating momentum, including rapid revenue growth, low delinquency trends, and improving monetization from its CashAI underwriting system, which supports the bullish narrative. Zacks
• Neutral Sentiment: Dave has also been hitting fresh highs, and elevated short interest may be adding fuel to the rally as buying pressure forces bearish traders to cover positions.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DAVE. Evercore initiated coverage on shares of Dave in a research note on Wednesday, May 27th. They set a "hold" rating and a $260.00 target price for the company. Canaccord Genuity Group upped their price target on shares of Dave from $328.00 to $342.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Citigroup reiterated an "outperform" rating on shares of Dave in a report on Thursday, July 9th. Lake Street Capital reissued a "buy" rating and issued a $332.00 price objective on shares of Dave in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Dave from $340.00 to $485.00 and gave the company an "outperform" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Dave currently has an average rating of "Buy" and an average target price of $379.40.

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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