Peregrine Capital Management LLC Buys Shares of 38,230 Dave Inc. $DAVE

Key Points

• Peregrine Capital bought 38,230 shares of Dave (NASDAQ:DAVE) in Q4, a new stake worth about $8.47 million, roughly 0.28% of the company.
• The board authorized a $300 million share buyback (up to ~11.2% of outstanding shares), signaling management believes the stock may be undervalued.
• Analysts are broadly positive — consensus rating "Moderate Buy" with a $315.25 target — and Dave has a near-term catalyst with Q1 2026 earnings scheduled for May 5.

Peregrine Capital Management LLC bought a new stake in Dave Inc. (NASDAQ:DAVE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,230 shares of the fintech company's stock, valued at approximately $8,465,000. Peregrine Capital Management LLC owned approximately 0.28% of Dave at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP lifted its holdings in Dave by 1.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company's stock valued at $767,000 after purchasing an additional 62 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Dave by 0.7% in the 2nd 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. Blue Trust Inc. lifted its holdings in Dave by 106.8% in 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 in the last quarter. Arizona State Retirement System lifted its holdings in Dave by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company's stock valued at $556,000 after purchasing an additional 88 shares in the last quarter. Finally, Westend Capital Management LLC lifted its holdings in Dave by 100.0% in 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 currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Zacks highlights Dave as a leading name in the Technology Services/fintech space, citing industry tailwinds (remote work/tech adoption) that could support revenue and cash-flow improvement. Read More.
• Positive Sentiment: Zacks published pieces labeling DAVE a strong momentum stock and noting it recently hit a 52-week high—signals that institutional/momentum flows have been supporting the stock. Read More.
• Neutral Sentiment: Dave scheduled its Q1 2026 earnings release and conference call for May 5 (results and guidance will be the next major catalyst and a common reason for pre-earnings volatility). Read More.
• Neutral Sentiment: Recent analyst commentary (Zacks) supports the growth/momentum narrative, but those pieces also raise the question of whether the run can continue—introducing both upside if results surprise and downside if guidance disappoints. Read More.
• Neutral Sentiment: Other news items in the feed (multiple obituaries and entertainment pieces about musicians named “Dave”) are unrelated to Dave Inc.’s business and unlikely to move the stock. Read More. Read More.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DAVE. Barrington Research restated an "outperform" rating and issued a $290.00 target price on shares of Dave in a report on Tuesday, March 10th. B. Riley Financial raised their target price on shares of Dave from $297.00 to $303.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Canaccord Genuity Group raised their target price on shares of Dave from $274.00 to $328.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Lake Street Capital raised their target price on shares of Dave from $308.00 to $326.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Finally, Benchmark reissued a "buy" rating on shares of Dave in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Dave has an average rating of "Moderate Buy" and a consensus price target of $315.25.

Dave Stock Performance

DAVE opened at $274.35 on Friday. The company's 50 day simple moving average is $201.59 and its 200 day simple moving average is $205.99. Dave Inc. has a 1 year low of $85.58 and a 1 year high of $287.69. The stock has a market capitalization of $3.72 billion, a PE ratio of 20.32 and a beta of 3.81.

Dave announced that its board has initiated a share buyback program on Monday, March 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the fintech company to buy up to 11.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

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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