Pictet Asset Management Holding SA Sells 4,162 Shares of Dave Inc. $DAVE

Key Points

• Pictet Asset Management Holding SA cut its Dave Inc. position by 71.3% in the first quarter, selling 4,162 shares and ending with 1,679 shares valued at about $292,000.
• Dave’s stock has been strong recently, trading up to $400.75 and nearing its 52-week high of $409.00, while several analysts have raised price targets and kept bullish ratings on the fintech company.
• The company posted a better-than-expected quarter, with EPS of $3.64 versus estimates of $2.86 and revenue of $158.41 million, and it guided FY 2026 EPS to 16.25-16.75.

Pictet Asset Management Holding SA lowered its stake in Dave Inc. (NASDAQ:DAVE - Free Report) by 71.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,679 shares of the fintech company's stock after selling 4,162 shares during the quarter. Pictet Asset Management Holding SA's holdings in Dave were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Divisadero Street Capital Management LP boosted its holdings in Dave by 73.1% in the third quarter. Divisadero Street Capital Management LP now owns 925,266 shares of the fintech company's stock valued at $184,452,000 after acquiring an additional 390,676 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Dave by 819.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company's stock worth $41,666,000 after purchasing an additional 186,273 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Dave in the fourth quarter worth $27,874,000. Wellington Management Group LLP grew its position in Dave by 200.7% during the 3rd quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company's stock valued at $35,305,000 after purchasing an additional 118,203 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Dave by 29.2% in the fourth quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company's stock worth $110,506,000 after buying an additional 112,700 shares in the last quarter. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Dave Price Performance

Shares of DAVE traded up $10.61 during mid-day trading on Friday, hitting $400.75. 287,100 shares of the stock were exchanged, compared to its average volume of 591,931. The company has a market cap of $5.09 billion, a PE ratio of 25.77 and a beta of 3.82. Dave Inc. has a 52-week low of $152.21 and a 52-week high of $409.00. The firm has a 50-day moving average of $293.43 and a two-hundred day moving average of $235.08. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86.

Dave (NASDAQ:DAVE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates 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. On average, equities analysts predict 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: Citizens JMP raised its price target on Dave Inc. to $450 from $365 and reiterated a Market Outperform rating, implying further upside from current levels. Benzinga report on price target increase
• Positive Sentiment: A Zacks note said Dave’s ARPU growth story is still gaining momentum in 2026, driven by strong ExtraCash demand, higher fees, second draws, and liquidity improvements. Zacks article on ARPU growth
• Neutral Sentiment: Short-interest data showed 0 shares short as of July 10, with the reported change distorted by zero prior-period shares; this does not appear to add meaningful new trading pressure.
• Neutral Sentiment: Several other items referenced people named “Dave” and are unrelated to Dave Inc. (DAVE), so they are unlikely to affect the stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DAVE shares. Barrington Research lifted their price objective on Dave from $290.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, June 12th. Citigroup restated an "outperform" rating on shares of Dave in a research report on Thursday. B. Riley Financial boosted their price target on Dave from $358.00 to $370.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods raised their price objective on shares of Dave from $295.00 to $330.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Finally, Benchmark upped their target price on shares of Dave from $345.00 to $475.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $346.90.

Insider Activity

In related news, Director Dan Preston sold 275 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason Wilk sold 8,474 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 299,950 shares in the company, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. 28.48% of the stock is owned by 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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