Dave Inc. $DAVE Shares Sold by Maverick Capital Ltd.

Key Points

• Maverick Capital cut its Dave holdings by 84.9% in the first quarter, selling 13,901 shares and retaining 2,475 shares worth approximately $431,000. Institutional investors and hedge funds own 18.01% of DAVE.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $379.40 average price target. Price targets range from $260 to $485, while Evercore is the only firm assigning a “Hold” rating.
• Dave exceeded quarterly expectations, reporting $3.64 in EPS versus the $2.86 consensus and $158.41 million in revenue. However, insiders—including the CEO—recently sold shares, and the stock’s high beta of 3.82 indicates substantial volatility.

Maverick Capital Ltd. lessened its holdings in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 84.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,475 shares of the fintech company's stock after selling 13,901 shares during the quarter. Maverick Capital Ltd.'s holdings in Dave were worth $431,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DAVE. WealthCollab LLC purchased a new position in Dave during the second quarter worth about $30,000. National Bank of Canada FI purchased a new stake in Dave in the 3rd quarter valued at about $30,000. Blue Trust Inc. grew its holdings in Dave by 106.8% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company's stock valued at $34,000 after buying an additional 79 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Dave during the 4th quarter valued at about $36,000. Finally, Harbour Investments Inc. acquired a new position in shares of Dave during the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 18.01% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on DAVE. Citigroup reissued an "outperform" rating on shares of Dave in a research report on Thursday, July 9th. Canaccord Genuity Group increased their price target on shares of Dave from $328.00 to $342.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Lake Street Capital reaffirmed a "buy" rating and set a $332.00 price target on shares of Dave in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price target on shares of Dave from $340.00 to $485.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Finally, Evercore started coverage on shares of Dave in a research note on Wednesday, May 27th. They set a "hold" rating and a $260.00 price objective for the company. One research 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 company. According to data from MarketBeat.com, Dave presently has a consensus rating of "Buy" and a consensus price target of $379.40.

Insider Buying and Selling at Dave

In other news, Director Dan Preston sold 275 shares of the stock in a transaction on 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 owned 5,466 shares of the company's stock, valued at $1,353,654.90. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the firm's 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 transaction, the chief executive officer directly owned 299,950 shares in the company, valued at approximately $82,501,247.50. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. 28.48% of the stock is owned by corporate insiders.

Dave Stock Performance

NASDAQ DAVE opened at $378.99 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 1-year low of $152.21 and a 1-year high of $458.25. The firm has a market capitalization of $4.82 billion, a P/E ratio of 24.37 and a beta of 3.82. The business's 50-day simple moving average is $337.79 and its 200-day simple moving average is $252.65.

Dave (NASDAQ:DAVE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The firm had revenue of $158.41 million during the quarter, compared to the consensus estimate of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Equities analysts predict that Dave Inc. will post 15.66 EPS for the current year.

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.

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