Sei Investments Co. Buys 17,320 Shares of Dave Inc. $DAVE

Key Points

• Sei Investments increased its Dave position by 21.4% in the first quarter, purchasing 17,320 additional shares for a total of 98,435 shares valued at approximately $17.1 million. Institutional investors collectively own 18.01% of the company.
• Analyst sentiment remains positive, with Dave receiving an overall “Buy” rating and an average price target of $379.40; Benchmark, UBS, and Keefe, Bruyette & Woods raised their targets to $475, $470, and $485, respectively.
• Dave exceeded quarterly expectations, reporting $3.64 in EPS versus the $2.86 consensus and revenue of $158.41 million. However, insiders sold shares, including CEO Jason Wilk’s $2.33 million transaction, while the stock has traded between $152.21 and $458.25 over the past year.

Sei Investments Co. grew its position in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,435 shares of the fintech company's stock after purchasing an additional 17,320 shares during the period. Sei Investments Co. owned approximately 0.73% of Dave worth $17,135,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. WealthCollab LLC purchased a new position in Dave during the 2nd quarter valued at approximately $30,000. National Bank of Canada FI bought a new position in shares of Dave during the 3rd quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 79 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Dave in the fourth quarter valued at $36,000. Finally, Harbour Investments Inc. bought a new stake in Dave in the fourth quarter worth $66,000. 18.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on DAVE shares. Citigroup reiterated an "outperform" rating on shares of Dave in a research report on Thursday, July 9th. Benchmark upped their target price on shares of Dave from $345.00 to $475.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. UBS Group increased their price target on shares of Dave from $300.00 to $470.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Evercore assumed coverage on Dave in a research report on Wednesday, May 27th. They issued a "hold" rating and a $260.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on Dave from $340.00 to $485.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Dave presently has an average rating of "Buy" and an average price target of $379.40.

Insider Buying and Selling at Dave

In other Dave news, Director Dan Preston sold 275 shares of the 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 sale, the director owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the chief executive officer owned 299,950 shares of the company's stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 28.48% of the company's stock.

Dave Stock Down 6.8%

Shares of NASDAQ DAVE opened at $378.99 on Thursday. 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 company has a market cap of $4.82 billion, a P/E ratio of 24.37 and a beta of 3.82. Dave Inc. has a 1 year low of $152.21 and a 1 year high of $458.25. The firm has a 50-day simple moving average of $337.79 and a two-hundred day simple moving average of $252.65.

Dave (NASDAQ:DAVE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.78. Dave had a return on equity of 77.70% and a net margin of 37.22%.The business had revenue of $158.41 million during the quarter, compared to analyst estimates of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Research analysts anticipate that Dave Inc. will post 15.66 earnings per share for the current year.

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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