Hsbc Holdings PLC Lowers Holdings in Dave Inc. $DAVE

Hsbc Holdings PLC trimmed its stake in Dave Inc. (NASDAQ:DAVE - Free Report) by 51.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,523 shares of the fintech company's stock after selling 2,694 shares during the quarter. Hsbc Holdings PLC's holdings in Dave were worth $559,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. WealthCollab LLC purchased a new position in shares of Dave in the 2nd quarter worth about $30,000. National Bank of Canada FI bought a new position in Dave in the 3rd quarter worth about $30,000. Blue Trust Inc. grew its position in Dave by 106.8% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company's stock valued at $34,000 after purchasing an additional 79 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Dave during the 4th quarter valued at about $36,000. Finally, Westend Capital Management LLC increased its stake in Dave by 100.0% during the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company's stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DAVE has been the subject of several recent analyst reports. Evercore assumed coverage on shares of Dave in a report on Wednesday, May 27th. They issued a "hold" rating and a $260.00 target price for the company. Keefe, Bruyette & Woods increased 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. Citigroup reissued an "outperform" rating on shares of Dave in a research report on Thursday, July 9th. B. Riley Financial boosted their price objective on shares of Dave from $358.00 to $370.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Finally, Lake Street Capital reaffirmed a "buy" rating and issued a $332.00 price objective on shares of Dave in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dave has an average rating of "Buy" and a consensus target price of $379.40.

Dave Stock Performance

Shares of DAVE stock opened at $442.53 on Friday. The company has a 50 day moving average price of $306.55 and a 200-day moving average price of $240.70. Dave Inc. has a 52 week low of $152.21 and a 52 week high of $455.98. The firm has a market capitalization of $5.62 billion, a PE ratio of 28.46 and a beta of 3.82. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95.

Dave (NASDAQ:DAVE - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, equities research analysts expect that Dave Inc. will post 15.45 earnings per share for the current year.

Key Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: UBS Group raised its price target on Dave Inc. (DAVE) to $470, signaling continued confidence in the stock’s upside potential and reinforcing the recent bullish sentiment around the name. Dave NASDAQ: DAVE Given New $470.00 Price Target at UBS Group
• Positive Sentiment: A Zacks industry note highlighted Dave Inc. (DAVE) as one of the names expected to benefit from rapid growth in the technology services market, which may be helping investors view the company as a beneficiary of stronger sector momentum. 3 Stocks to Consider From the Growing Technology Services Market
• Neutral Sentiment: Several headlines about Dave Kendall, the late MTV host, appear in the feed but are unrelated to Dave Inc. (DAVE) and should not materially affect the stock.
• Neutral Sentiment: A story about Dave & Buster’s launching a U.S. rave tour is also unrelated to Dave Inc. (DAVE) and is unlikely to influence trading in the fintech stock.

Insiders Place Their Bets

In related news, Director Dan Preston sold 275 shares of Dave stock in a transaction on 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 sale, the director owned 5,466 shares of the company's stock, valued at $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jason Wilk sold 8,474 shares of Dave stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is currently owned by insiders.

Dave 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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