Great Lakes Advisors LLC Purchases Shares of 2,969 Dave Inc. $DAVE

Key Points

• Great Lakes Advisors acquired 2,969 Dave shares worth approximately $1.1 million during the second quarter. Other institutions also increased positions or initiated stakes, with institutional investors collectively owning 18.01% of DAVE.
• Dave reported quarterly revenue of $170.79 million, slightly below estimates, while earnings per share of $0.49 fell well short of the $3.44 consensus forecast. The company issued fiscal 2026 EPS guidance of $17.00–$17.50.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $410.82; recent targets range from $450 to $490. Dave’s growth initiatives include controlled customer-acquisition costs, rising membership and the CashAI V6 underwriting upgrade.

Great Lakes Advisors LLC acquired a new position in Dave Inc. (NASDAQ:DAVE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,969 shares of the fintech company's stock, valued at approximately $1,106,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company's stock valued at $2,412,000 after acquiring an additional 65 shares during the last quarter. Prudential Financial Inc. bought a new stake in Dave during the second quarter worth about $324,000. Invesco Ltd. lifted its stake in Dave by 2,379.9% during 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 during the last quarter. First Trust Advisors LP purchased a new position in shares of Dave in the 2nd quarter worth about $18,710,000. Finally, Cresset Asset Management LLC bought a new position in shares of Dave during the 2nd quarter valued at about $402,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Membership growth with stable acquisition costs: Dave reportedly held customer-acquisition cost at $19 while new members increased 32%. If CAC remains controlled as marketing investment accelerates in the second half of 2026, the company could expand efficiently and support future revenue growth. Dave's Marketing Push Accelerates: Can CAC Stay Flat as Members Grow?
• Positive Sentiment: CashAI V6 could improve monetization: Dave’s upgraded underwriting technology is intended to increase average originations and gross profit while building on rising average revenue per user, stronger ExtraCash engagement and controlled credit losses. Successful implementation could strengthen profitability and lending economics. Dave's CashAI V6: Can Smarter Underwriting Lift ARPU?
• Neutral Sentiment: New analyst coverage: Piper Sandler initiated research coverage of Dave. The initiation may improve institutional visibility, but the available report does not specify a rating or price target. Dave Research Coverage Started at Piper Sandler
• Neutral Sentiment: Several articles are unrelated to Dave Inc.: Stories about Dave Portnoy and Pizza Hut, actor Dave Bautista’s television role, and Dave Ramsey’s retirement advice do not affect DAVE’s financial outlook or stock valuation.

Dave Stock Up 5.9%

DAVE stock opened at $354.72 on Friday. Dave Inc. has a fifty-two week low of $152.21 and a fifty-two week high of $458.25. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 23.00 and a beta of 3.83. The business's 50 day moving average price is $368.57 and its two-hundred day moving average price is $271.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22.

Dave (NASDAQ:DAVE - Get Free Report) last released its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $3.44 by ($2.95). The business had revenue of $170.79 million during the quarter, compared to analysts' expectations of $171.11 million. Dave had a return on equity of 77.46% and a net margin of 34.58%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, analysts forecast that Dave Inc. will post 13.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

DAVE has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on Dave from $342.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods raised their price target on Dave from $485.00 to $490.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Dave in a research note on Thursday, August 6th. UBS Group boosted their price objective on Dave from $300.00 to $470.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Lake Street Capital reissued a "buy" rating and set a $450.00 price objective on shares of Dave in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $410.82.

Insider Transactions at Dave

In other Dave news, Director Dan Preston sold 275 shares of the business'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 completion of the transaction, the director owned 5,466 shares of the company's stock, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 299,950 shares of the company's stock, valued at $82,501,247.50. The trade was a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 23.59% of the stock is currently owned by company 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.

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