Dave Inc. $DAVE Shares Sold by Regal Partners Ltd

Key Points

• Regal Partners Ltd. cut its Dave stake by 80.1% in the first quarter, selling 12,020 shares and retaining 2,981 shares worth approximately $519,000.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $379.40; UBS and Benchmark recently raised their targets to $470 and $475, respectively.
• Dave reported quarterly EPS of $3.64, beating estimates of $2.86, while revenue reached $158.41 million. The stock opened at $406.45, near its 52-week high of $458.25, as insiders also disclosed recent share sales.

Regal Partners Ltd trimmed its holdings in Dave Inc. (NASDAQ:DAVE - Free Report) by 80.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,981 shares of the fintech company's stock after selling 12,020 shares during the quarter. Regal Partners Ltd's holdings in Dave were worth $519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Dave by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 685,839 shares of the fintech company's stock valued at $151,852,000 after buying an additional 30,546 shares during the period. Renaissance Technologies LLC grew its holdings in Dave by 29.2% during the fourth quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company's stock worth $110,506,000 after acquiring an additional 112,700 shares during the period. Geode Capital Management LLC grew its holdings in Dave by 31.1% during the fourth quarter. Geode Capital Management LLC now owns 318,295 shares of the fintech company's stock worth $70,483,000 after acquiring an additional 75,576 shares during the period. Dimensional Fund Advisors LP raised its position in Dave by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 253,173 shares of the fintech company's stock valued at $44,069,000 after acquiring an additional 42,262 shares in the last quarter. Finally, State Street Corp raised its position in Dave by 10.6% during the fourth quarter. State Street Corp now owns 233,163 shares of the fintech company's stock valued at $51,625,000 after acquiring an additional 22,274 shares in the last quarter. 18.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Dave from $300.00 to $470.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Evercore initiated coverage on shares of Dave in a report on Wednesday, May 27th. They set a "hold" rating and a $260.00 target price for the company. B. Riley Financial increased their price target on shares of Dave from $358.00 to $370.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Lake Street Capital reiterated a "buy" rating and issued a $332.00 price objective on shares of Dave in a research report on Wednesday, May 6th. Finally, Benchmark increased their target price on shares of Dave from $345.00 to $475.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $379.40.

Insider Activity

In other news, Director Dan Preston sold 275 shares of Dave stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $247.65, for a total value of $68,103.75. Following the sale, the director owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason Wilk sold 8,474 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the transaction, the chief executive officer owned 299,950 shares of the company's stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is owned by company insiders.

Dave Trading Up 0.2%

Shares of NASDAQ:DAVE opened at $406.45 on Wednesday. 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 $5.17 billion, a price-to-earnings ratio of 26.14 and a beta of 3.82. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. The business's 50 day moving average price is $335.08 and its 200-day moving average price is $251.65.

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