Mangrove Partners IM LLC Takes Position in Dave Inc. $DAVE

Key Points

• Mangrove Partners IM LLC disclosed a new fourth-quarter stake in Dave Inc., buying 4,748 shares valued at about $1.05 million.
• Other institutional investors have also been adding to Dave, while institutional ownership now stands at 18.01% of the company.
• Dave recently beat quarterly earnings and revenue estimates, and analysts remain generally bullish with an average “Moderate Buy” rating and a target price of $325.40.

Mangrove Partners IM LLC purchased a new stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,748 shares of the fintech company's stock, valued at approximately $1,051,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DAVE. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 65 shares in the last quarter. Prudential Financial Inc. bought a new position in Dave in the second quarter worth approximately $324,000. Invesco Ltd. raised its stake in 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 buying an additional 93,554 shares in the last quarter. First Trust Advisors LP bought a new position in Dave in the second quarter worth approximately $18,710,000. Finally, Cresset Asset Management LLC bought a new position in Dave in the second quarter worth approximately $402,000. Institutional investors own 18.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup reissued an "outperform" rating on shares of Dave in a research note on Wednesday, May 6th. Evercore assumed coverage on shares of Dave in a research note on Wednesday, May 27th. They issued a "hold" rating and a $260.00 price objective for the company. UBS Group assumed coverage on shares of Dave in a research note on Tuesday, May 26th. They issued a "buy" rating and a $300.00 price objective for the company. 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 research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Dave from $295.00 to $330.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Dave presently has an average rating of "Moderate Buy" and an average target price of $325.40.

Dave Stock Performance

Shares of DAVE stock opened at $298.52 on Wednesday. The business's fifty day simple moving average is $249.63 and its 200-day simple moving average is $216.17. The company has a market cap of $3.79 billion, a PE ratio of 19.20 and a beta of 3.87. 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 12-month low of $152.21 and a 12-month high of $318.66.

Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly 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. The business had revenue of $158.41 million for the quarter, compared to the consensus estimate of $153.67 million. Dave had a return on equity of 77.70% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Analysts expect that Dave Inc. will post 14.7 earnings per share for the current fiscal year.

Dave announced that its Board of Directors has authorized a share repurchase plan on Monday, March 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the fintech company to purchase up to 11.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Dan Preston sold 275 shares of the company's stock in a transaction 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 transaction, the director directly owned 5,466 shares of the company's stock, valued at approximately $1,353,654.90. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the company's 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 transaction, the chief executive officer directly owned 299,950 shares in the company, valued at approximately $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. Corporate insiders own 28.48% of the company's stock.

Key Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Zacks highlighted Dave Inc. (DAVE) as trading below its industry P/E average despite nearly 80% return on equity, strong margins, low debt, and rising member growth, suggesting the market may be underestimating earnings power. Article Title
• Positive Sentiment: DAVE was also named among “relative price strength winners,” with the article citing firmer market sentiment and positive earnings estimate revisions as tailwinds. Article Title
• Positive Sentiment: Another Zacks piece listed Dave Inc. (DAVE) among high-flying tech services stocks with double-digit year-to-date gains, reinforcing the stock’s momentum story. Article Title

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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