SG Americas Securities LLC Sells 10,551 Shares of Dave Inc. $DAVE

Key Points

• SG Americas Securities LLC reduced its stake in Dave Inc. by 11.9% in the first quarter, selling 10,551 shares and ending with 78,001 shares valued at about $13.6 million.
• Dave’s stock was trading up 8.0% at $348.71, near its 52-week high of $353.02, with a market cap of $4.43 billion.
• The company posted strong quarterly results, reporting EPS of $3.64 versus $2.86 expected, and it also authorized a $300 million share buyback program.

SG Americas Securities LLC cut its stake in Dave Inc. (NASDAQ:DAVE - Free Report) by 11.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,001 shares of the fintech company's stock after selling 10,551 shares during the quarter. SG Americas Securities LLC owned about 0.58% of Dave worth $13,579,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DAVE. WealthCollab LLC bought a new stake in Dave during the second quarter valued at about $30,000. National Bank of Canada FI purchased a new position in Dave in the third quarter valued at about $30,000. Blue Trust Inc. raised its holdings in Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company's stock worth $34,000 after purchasing an additional 79 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Dave in the fourth quarter worth about $36,000. Finally, Westend Capital Management LLC lifted its position in shares of Dave by 100.0% during the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company's stock valued at $44,000 after buying an additional 100 shares during the last quarter. 18.01% of the stock is owned by institutional investors.

Dave Trading Up 8.0%

Dave stock opened at $348.71 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86. The stock has a market cap of $4.43 billion, a PE ratio of 22.43 and a beta of 3.87. The stock has a 50-day moving average of $269.89 and a two-hundred day moving average of $222.20. Dave Inc. has a one year low of $152.21 and a one year high of $353.02.

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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, research analysts anticipate that Dave Inc. will post 15.44 EPS for the current fiscal year.

Dave announced that its Board of Directors has approved a share buyback program on Monday, March 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the fintech company to reacquire 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 stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAVE. Barrington Research raised their price target on shares of Dave from $290.00 to $310.00 and gave the company an "outperform" rating in a report on Friday, June 12th. Wall Street Zen lowered shares of Dave from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. UBS Group assumed coverage on shares of Dave in a research report on Tuesday, May 26th. They set a "buy" rating and a $300.00 target price for the company. Canaccord Genuity Group raised their target price on shares of Dave from $328.00 to $342.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Citizens Jmp lifted their price target on shares of Dave from $335.00 to $365.00 and gave the stock a "market outperform" rating in a report on Wednesday, May 6th. One 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $325.40.

Insider Buying and Selling

In other Dave news, CEO Jason Wilk sold 8,474 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total transaction 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. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dan Preston sold 275 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director owned 5,466 shares in the company, valued at $1,353,654.90. The trade was a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 28.48% of the stock is owned by company insiders.

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.

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