Dave Inc. $DAVE Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Dave holdings by 73.3% in the second quarter, selling 7,506 shares and retaining 2,737 shares valued at approximately $1.02 million. Other institutional investors initiated or increased positions, while institutions overall own 18.01% of the company.
• Analysts remain broadly positive on Dave, with 14 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $433.25. Loop Capital set a $500 target, while UBS raised its target to $470.
• Dave shares opened at $337.82, compared with a 12-month range of $152.21 to $458.25. The company reported quarterly revenue of $170.79 million, slightly below estimates, and EPS of $0.49, missing the $3.44 consensus forecast.

Engineers Gate Manager LP cut its holdings in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 73.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,737 shares of the fintech company's stock after selling 7,506 shares during the period. Engineers Gate Manager LP's holdings in Dave were worth $1,020,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Dave in the second quarter worth $137,000. RFG Advisory LLC purchased a new position in shares of Dave in the 2nd quarter valued at about $1,146,000. Squarepoint Ops LLC acquired a new position in shares of Dave during the second quarter worth about $907,000. Allworth Financial LP grew its position in shares of Dave by 25.4% during the second quarter. Allworth Financial LP now owns 143 shares of the fintech company's stock worth $53,000 after buying an additional 29 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Dave during the second quarter worth approximately $193,000. Institutional investors and hedge funds own 18.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DAVE. Citigroup reaffirmed an "outperform" rating on shares of Dave in a report on Thursday, August 6th. Loop Capital began coverage on shares of Dave in a research report on Wednesday, September 9th. They issued a "buy" rating and a $500.00 price objective on the stock. UBS Group raised their price objective on shares of Dave from $300.00 to $470.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Dave from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. Finally, Freedom Capital upgraded shares of Dave to a "hold" rating in a research note on Thursday, July 30th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $433.25.

Dave Price Performance

DAVE stock opened at $337.82 on Friday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $4.31 billion, a P/E ratio of 21.91 and a beta of 3.83. The business has a 50 day simple moving average of $374.76 and a 200-day simple moving average of $298.04. Dave Inc. has a twelve month low of $152.21 and a twelve month high of $458.25.

Dave (NASDAQ:DAVE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 EPS for the quarter, missing the consensus estimate of $3.44 by ($2.95). Dave had a net margin of 34.58% and a return on equity of 77.46%. The business had revenue of $170.79 million during the quarter, compared to analysts' expectations of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, equities analysts anticipate that Dave Inc. will post 13.35 EPS for the current year.

Dave Profile

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.

Want to see what other hedge funds are holding DAVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dave Inc. (NASDAQ:DAVE - Free Report).

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.