Dave Inc. $DAVE Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System lifted its stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 33,721.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,446,489 shares of the fintech company's stock after purchasing an additional 4,433,342 shares during the period. California State Teachers Retirement System owned approximately 34.85% of Dave worth $1,656,717,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Brevan Howard Capital Management LP lifted its stake in Dave by 1.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company's stock worth $767,000 after acquiring an additional 62 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Dave by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company's stock valued at $2,412,000 after buying an additional 65 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Dave by 43.9% during the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company's stock valued at $83,000 after buying an additional 68 shares during the last quarter. Worth Venture Partners LLC grew its stake in shares of Dave by 9.4% in the 3rd quarter. Worth Venture Partners LLC now owns 1,258 shares of the fintech company's stock valued at $251,000 after buying an additional 108 shares in the last quarter. Finally, WealthCollab LLC acquired a new position in Dave in the second quarter worth approximately $30,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DAVE shares. Weiss Ratings cut shares of Dave from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 2nd. B. Riley Financial increased their price target on shares of Dave from $370.00 to $449.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Canaccord Genuity Group raised their price target on shares of Dave from $342.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Benchmark lifted their price objective on shares of Dave from $345.00 to $475.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Finally, Lake Street Capital reiterated a "buy" rating and issued a $450.00 price objective on shares of Dave in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $418.25.

Key Headlines Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Loop Capital initiated coverage with a Buy rating and a $500 price target, implying approximately 40% upside from the cited reference price. The endorsement could support DAVE by improving analyst visibility and reinforcing the bullish outlook for the fintech’s earnings growth. Loop Capital analyst coverage
• Neutral Sentiment: A market update reported short interest of zero shares as of September 10, unchanged from the prior report. Because the figures conflict with the description of a “large increase” and produce a zero-day short-interest ratio, the data appears to be an error and offers no dependable signal for DAVE investors.
• Neutral Sentiment: Several headlines concern unrelated entities, including Dave the Diver, Dave Matthews Band, Dave Winfield, Dave East, Dave’s Hot Chicken, and Dave & Buster’s. These stories are not connected to Dave Inc. and should not affect NASDAQ:DAVE.

Dave Trading Down 2.1%

Shares of NASDAQ:DAVE opened at $350.71 on Friday. The company has a market cap of $4.47 billion, a P/E ratio of 22.74 and a beta of 3.83. The stock's 50-day moving average is $377.68 and its 200-day moving average is $291.69. Dave Inc. has a 52-week low of $152.21 and a 52-week high of $458.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22.

Dave (NASDAQ:DAVE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($2.95). The business had revenue of $170.79 million for the quarter, compared to the consensus estimate of $171.11 million. Dave had a net margin of 34.58% and a return on equity of 77.46%. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Equities research analysts predict that Dave Inc. will post 13.71 earnings per share for the current year.

About Dave

Dave Inc is a financial technology company that operates a digital banking platform designed to help consumers manage everyday finances. Through its mobile application, the company provides tools intended to support budgeting, spending, saving and access to short-term funds.

Dave's products include Dave Spending, a spending account and debit card offering, as well as budgeting and automatic savings features. Its ExtraCash product provides eligible users with access to advances intended to help manage short-term cash needs.

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