Dave Inc. $DAVE Shares Bought by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of the State of Kentucky increased its stake in Dave Inc. by 92.3% in the first quarter, buying 3,971 additional shares for a total holding of 8,273 shares valued at about $1.44 million.
• Dave shares have been supported by strong analyst sentiment, with UBS raising its price target to $470 and several other firms also lifting targets while maintaining bullish ratings.
• The company posted better-than-expected first-quarter results, including EPS of $3.64 versus $2.86 expected, and revenue of $158.41 million, while its stock has also been boosted by momentum around leadership changes and improved funding strategy.

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 92.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,273 shares of the fintech company's stock after acquiring an additional 3,971 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Dave worth $1,440,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Dave by 2,267.1% in the 4th quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company's stock valued at $19,606,000 after purchasing an additional 84,811 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Dave during the 3rd quarter worth about $1,826,000. Pictet Asset Management Holding SA raised its holdings in Dave by 372.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company's stock worth $1,293,000 after buying an additional 4,604 shares during the period. Strs Ohio lifted its stake in Dave by 1,400.0% during the fourth quarter. Strs Ohio now owns 4,500 shares of the fintech company's stock valued at $996,000 after buying an additional 4,200 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Dave by 266.0% during the fourth quarter. BNP Paribas Financial Markets now owns 54,669 shares of the fintech company's stock valued at $12,104,000 after buying an additional 39,734 shares in the last quarter. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: UBS Group raised its price target on Dave Inc. to $470 from $300 and kept a Buy rating, reinforcing a bullish view after the stock’s strong run. Benzinga
• Positive Sentiment: Investors also appear to be responding to prior company updates around leadership and funding strategy, including a new CTO appointment and the transition of ExtraCash originations to Coastal Community Bank, which could improve liquidity and lower funding costs.
• Positive Sentiment: The stock has been benefiting from momentum tied to strong recent operating results, including revenue growth and improving credit quality, while elevated short interest may be amplifying gains as buyers step in.

Dave Trading Up 5.1%

NASDAQ:DAVE opened at $438.19 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. Dave Inc. has a fifty-two week low of $152.21 and a fifty-two week high of $442.82. The stock's 50-day moving average is $302.68 and its two-hundred day moving average is $239.20. The stock has a market cap of $5.57 billion, a PE ratio of 28.18 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 for the quarter, beating analysts' consensus estimates of $2.86 by $0.78. The company had revenue of $158.41 million for the quarter, compared to the consensus estimate of $153.67 million. Dave had a return on equity of 77.70% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, equities research analysts forecast that Dave Inc. will post 15.45 earnings per share for the current fiscal year.

Insider Activity at Dave

In other Dave news, CEO Jason Wilk sold 8,474 shares of Dave stock in a transaction 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 of the company's stock, 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 hyperlink. Also, Director Dan Preston sold 275 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director owned 5,466 shares in the company, valued at approximately $1,353,654.90. This represents 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DAVE shares. Citigroup reissued an "outperform" rating on shares of Dave in a research report on Thursday, July 9th. Benchmark upped their price target on shares of Dave from $345.00 to $475.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Evercore began coverage on shares of Dave in a research note on Wednesday, May 27th. They issued a "hold" rating and a $260.00 price objective for the company. Citizens Jmp lifted their price objective on shares of Dave from $365.00 to $450.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Dave from $340.00 to $485.00 and gave the company an "outperform" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $379.40.

About Dave

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.