Meeder Asset Management Inc. Reduces Stock Holdings in Dave Inc. $DAVE

Key Points

• Meeder Asset Management cut its stake in Dave Inc. by 86.7% in the first quarter, selling 4,108 shares and leaving it with 631 shares worth about $110,000.
• Other institutional investors were mixed on the stock, with some sharply increasing holdings; hedge funds and institutions still own 18.01% of Dave’s shares.
• Dave reported strong quarterly results, beating EPS and revenue estimates, while analysts remain broadly bullish with a consensus Buy rating and a price target of $379.40.

Meeder Asset Management Inc. reduced its position in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 86.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 631 shares of the fintech company's stock after selling 4,108 shares during the quarter. Meeder Asset Management Inc.'s holdings in Dave were worth $110,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Dave by 2,267.1% during the fourth quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company's stock valued at $19,606,000 after buying an additional 84,811 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Dave by 92.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,273 shares of the fintech company's stock worth $1,440,000 after acquiring an additional 3,971 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Dave by 372.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company's stock worth $1,293,000 after acquiring an additional 4,604 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Dave during the 1st quarter valued at $1,371,000. Finally, Strs Ohio grew its position in shares of Dave by 1,400.0% during the 4th quarter. Strs Ohio now owns 4,500 shares of the fintech company's stock valued at $996,000 after acquiring an additional 4,200 shares during the period. Hedge funds and other institutional investors own 18.01% of the company's stock.

Insider Transactions at Dave

In other news, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction dated 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 $82,501,247.50. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan Preston sold 275 shares of the company'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 directly owned 5,466 shares of the company's stock, 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 owned by company insiders.

Dave Stock Performance

Shares of NASDAQ DAVE opened at $438.90 on Wednesday. The firm has a fifty day moving average price of $317.94 and a 200-day moving average price of $245.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86. The stock has a market cap of $5.58 billion, a PE ratio of 28.23 and a beta of 3.82. Dave Inc. has a 1 year low of $152.21 and a 1 year high of $458.25.

Dave (NASDAQ:DAVE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. The firm had revenue of $158.41 million for the quarter, compared to the consensus estimate of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Equities analysts anticipate that Dave Inc. will post 15.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DAVE. B. Riley Financial upped their price objective on Dave from $358.00 to $370.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded Dave from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. UBS Group boosted their price target on Dave from $300.00 to $470.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Canaccord Genuity Group upped their price target on Dave from $328.00 to $342.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Barrington Research raised their price objective on Dave from $290.00 to $310.00 and gave the stock an "outperform" rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Dave presently has a consensus rating of "Buy" and a consensus price target of $379.40.

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.

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.