Dave Inc. $DAVE Position Lifted by Divisadero Street Capital Management LP

Key Points

• Divisadero Street Capital Management LP raised its stake in Dave Inc. by 73.1% to 925,266 shares, representing about 6.85% ownership worth roughly $184.45 million and making DAVE the fund’s second-largest position (~8% of its portfolio).
• Dave’s board approved a $300 million share repurchase program that can buy up to 11.2% of outstanding shares, a move that typically signals management views the stock as undervalued.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average target price of $312.13, after multiple firms raised price targets into the mid-$200s–$300s range.

Divisadero Street Capital Management LP raised its position in Dave Inc. (NASDAQ:DAVE - Free Report) by 73.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 925,266 shares of the fintech company's stock after buying an additional 390,676 shares during the quarter. Dave makes up approximately 8.0% of Divisadero Street Capital Management LP's portfolio, making the stock its 2nd biggest position. Divisadero Street Capital Management LP owned approximately 6.85% of Dave worth $184,452,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Brevan Howard Capital Management LP increased its holdings in shares of Dave by 1.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company's stock valued at $767,000 after acquiring an additional 62 shares during the period. JPMorgan Chase & Co. grew its position in Dave by 0.7% during the 2nd 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 last quarter. Arizona State Retirement System increased its stake in Dave by 3.3% in the third quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company's stock valued at $556,000 after purchasing an additional 88 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Dave by 3.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 2,931 shares of the fintech company's stock valued at $787,000 after buying an additional 91 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Dave by 2.3% in the third quarter. AlphaQuest LLC now owns 4,419 shares of the fintech company's stock valued at $881,000 after buying an additional 101 shares during the last quarter. 18.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DAVE. Barrington Research reiterated an "outperform" rating and set a $290.00 target price on shares of Dave in a research note on Tuesday, March 10th. Benchmark reaffirmed a "buy" rating on shares of Dave in a research note on Tuesday, March 3rd. Lake Street Capital upped their price objective on Dave from $308.00 to $326.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods lifted their target price on Dave from $250.00 to $295.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group lifted their target price on Dave from $274.00 to $328.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $312.13.

Insider Activity

In other news, Director Imran Khan sold 33,270 shares of the firm's stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $199.34, for a total value of $6,632,041.80. Following the completion of the sale, the director directly owned 2,110 shares of the company's stock, valued at $420,607.40. This trade represents a 94.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 66,936 shares of company stock worth $13,268,829. Corporate insiders own 28.48% of the company's stock.

Key Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Barrington Research reiterated an Outperform rating on Dave, which supports upside investor sentiment and could underpin buying interest. Barrington Reiterates Outperform
• Positive Sentiment: Zacks included DAVE in a "Buy 3 High-Flying Small-Sized Tech Services Stocks" idea, highlighting the stock among names showing strong gains in 2026 — a positive for sentiment-driven flows. Buy 3 High-Flying Small-Sized Tech Services Stocks
• Positive Sentiment: Zacks also named DAVE among "Stocks With Relative Price Strength," signalling the name has outperformed peers recently — another factor that can attract momentum investors. 4 Stocks With Relative Price Strength
• Neutral Sentiment: Short-interest data posted recently shows zero/NaN values and a 0.0 days-to-cover figure — this appears to be a reporting anomaly and is not signalling a notable short-position change affecting the stock today.
• Neutral Sentiment: Several news items referencing "Dave" (a restaurant tie-in: Dave's Hot Chicken at the Masters) and pop-culture mentions (Dave Matthews, Dave Meltzer) are unrelated to Dave Inc.'s business and are unlikely to move the stock. Dave's Hot Chicken brings Masters theme to Augusta
• Neutral Sentiment: Coverage about the video game "Dave the Diver" and its DLC is unrelated to Dave Inc. and should not affect fundamentals or investor valuation. DAVE THE DIVER DLC Launches June 18

Dave Stock Down 0.4%

Shares of Dave stock opened at $212.02 on Monday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 15.71 and a beta of 3.85. Dave Inc. has a 52-week low of $65.46 and a 52-week high of $286.45. The company's 50-day simple moving average is $192.96 and its 200-day simple moving average is $207.74.

Dave announced that its board has approved a share repurchase plan on Monday, March 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the fintech company to buy up to 11.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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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