Granahan Investment Management LLC Buys 63,551 Shares of Dave Inc. $DAVE

Key Points

• Granahan Investment Management massively boosted its stake in Dave Inc., adding 63,551 shares in the first quarter for a total of 65,462 shares worth about $11.4 million, a 3,325.5% increase.
• Several other institutional investors also increased or initiated positions in Dave, and institutions now hold 18.01% of the company’s stock.
• Dave has seen positive analyst momentum, including a Zacks upgrade to Strong Buy and multiple raised price targets, while the company also recently beat quarterly earnings and revenue expectations.

Granahan Investment Management LLC increased its position in Dave Inc. (NASDAQ:DAVE - Free Report) by 3,325.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,462 shares of the fintech company's stock after acquiring an additional 63,551 shares during the quarter. Granahan Investment Management LLC owned about 0.48% of Dave worth $11,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Dave by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company's stock valued at $2,412,000 after purchasing an additional 65 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Dave in the second quarter worth approximately $324,000. Invesco Ltd. increased its stake in shares of Dave by 2,379.9% in the second quarter. Invesco Ltd. now owns 97,485 shares of the fintech company's stock worth $26,166,000 after purchasing an additional 93,554 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Dave in the second quarter worth $18,710,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Dave during the 2nd quarter valued at $402,000. Institutional investors own 18.01% of the company's stock.

Dave News Summary

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Dave Inc. was upgraded to a Strong Buy by Zacks, reflecting improving earnings expectations and potentially drawing more investor interest. DAVE INC (DAVE) Upgraded to Strong Buy: Here's Why
• Positive Sentiment: Analysts say Dave’s rapid growth, improving credit performance, and broader product offerings give it an edge over competitors. Toast vs. Dave: Which Fintech Disruptor Is Better for Investors Now?
• Positive Sentiment: Dave is being flagged as a candidate to beat upcoming earnings estimates again, which could reinforce the stock’s momentum if results come in strong. Will DAVE INC (DAVE) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: A report noted a sharp increase in short interest, but the data appears unreliable because it shows zero shares and a zero days-to-cover ratio, so it is unlikely to be a meaningful driver. Short Interest Update
• Neutral Sentiment: One market commentary highlighted that Dave shares have been strong year to date, but this was mostly a performance recap rather than a new catalyst. Financials Sector Catalyst Sees Dave Shares up 91% YTD

Dave Price Performance

NASDAQ:DAVE opened at $402.81 on Friday. The business's 50-day moving average is $328.44 and its 200 day moving average is $249.10. Dave Inc. has a 12 month low of $152.21 and a 12 month high of $458.25. The company has a market capitalization of $5.12 billion, a P/E ratio of 25.90 and a beta of 3.82. 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 (NASDAQ:DAVE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.78. Dave had a return on equity of 77.70% and a net margin of 37.22%.The business had revenue of $158.41 million during 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 research analysts forecast that Dave Inc. will post 15.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

DAVE has been the topic of a number of analyst reports. Barrington Research lifted their target price on shares of Dave from $290.00 to $310.00 and gave the company an "outperform" rating in a research note on Friday, June 12th. Citigroup reiterated an "outperform" rating on shares of Dave in a research note on Thursday, July 9th. Citizens Jmp raised their price target on Dave from $365.00 to $450.00 and gave the company a "market outperform" rating in a report on Thursday, July 9th. Evercore assumed coverage on Dave in a research note on Wednesday, May 27th. They issued a "hold" rating and a $260.00 price objective for the company. Finally, Benchmark lifted their target price on Dave from $345.00 to $475.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $379.40.

Insider Buying and Selling

In other news, Director Dan Preston sold 275 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the completion of the transaction, the director directly owned 5,466 shares in the company, valued at approximately $1,353,654.90. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer owned 299,950 shares in the company, valued at $82,501,247.50. This 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 currently owned by corporate insiders.

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.

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.