Geode Capital Management LLC Has $70.48 Million Stock Holdings in Dave Inc. $DAVE

Key Points

• Geode Capital Management boosted its stake in Dave by 31.1% in Q4, ending with 318,295 shares worth about $70.48 million, or roughly 2.36% of the company.
• Dave reported better-than-expected Q1 earnings, posting $3.64 EPS versus the $2.86 estimate and revenue of $158.41 million, while also issuing FY 2026 EPS guidance of 16.25 to 16.75.
• The company’s board authorized a $300 million share buyback, and analysts remain constructive overall with a consensus Moderate Buy rating and average target price of $323.40.

Geode Capital Management LLC grew its holdings in Dave Inc. (NASDAQ:DAVE - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 318,295 shares of the fintech company's stock after buying an additional 75,576 shares during the quarter. Geode Capital Management LLC owned approximately 2.36% of Dave worth $70,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WealthCollab LLC acquired a new stake in shares of Dave in the second quarter valued at $30,000. National Bank of Canada FI acquired a new stake in shares of Dave in the third quarter valued at $30,000. Blue Trust Inc. increased its stake in shares of Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company's stock valued at $34,000 after buying an additional 79 shares in the last quarter. Westend Capital Management LLC increased its stake in shares of Dave by 100.0% in the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company's stock valued at $44,000 after buying an additional 100 shares in the last quarter. Finally, Harbour Investments Inc. acquired a new stake in shares of Dave in the fourth quarter valued at $66,000. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Dave Price Performance

Shares of DAVE opened at $270.29 on Tuesday. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.95. Dave Inc. has a 1 year low of $152.21 and a 1 year high of $293.90. The stock has a market cap of $3.44 billion, a P/E ratio of 17.38 and a beta of 3.87. The stock's 50-day moving average price is $235.79 and its two-hundred day moving average price is $212.41.

Dave (NASDAQ:DAVE - Get Free Report) last issued 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 return on equity of 77.70% and a net margin of 37.22%.The firm had revenue of $158.41 million for the quarter, compared to analysts' expectations of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, equities analysts predict that Dave Inc. will post 14.7 earnings per share for the current year.

Dave declared that its Board of Directors has initiated a share buyback program on Monday, March 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the fintech company to buy up to 11.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at Dave

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Evercore assumed coverage on Dave in a research note on Wednesday, May 27th. They issued a "hold" rating and a $260.00 target price for the company. Citigroup reiterated an "outperform" rating on shares of Dave in a report on Wednesday, May 6th. B. Riley Financial raised their price target on Dave from $358.00 to $370.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Zacks Research upgraded Dave from a "hold" rating to a "strong-buy" rating in a report on Monday, February 16th. Finally, Benchmark reiterated a "buy" rating on shares of Dave in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $323.40.

Dave Company Profile

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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