Wellington Management Group LLP Lowers Position in Dave Inc. $DAVE

Key Points

• Wellington Management Group reduced its Dave stake by 6.1% in the second quarter, selling 13,867 shares and retaining 212,175 shares valued at approximately $79.1 million. Institutional investors collectively own 18.01% of the company.
• Wall Street remains broadly positive on Dave, with 12 Buy ratings and three Holds. The stock has a consensus “Moderate Buy” rating and an average price target of $410.82, with recent targets ranging from $310 to $475.
• Dave reported quarterly EPS of $0.49, well below the $3.44 analyst consensus, while revenue of $170.79 million was roughly in line with expectations. Shares opened at $372.85, compared with a 52-week range of $152.21 to $458.25.

Wellington Management Group LLP cut its holdings in shares of Dave Inc. (NASDAQ:DAVE - Free Report) by 6.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 212,175 shares of the fintech company's stock after selling 13,867 shares during the period. Wellington Management Group LLP owned 1.66% of Dave worth $79,054,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DAVE. Brevan Howard Capital Management LP grew its position in shares of Dave by 1.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company's stock worth $767,000 after buying an additional 62 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Dave by 0.7% in the second 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 during the period. GAMMA Investing LLC increased its holdings in Dave by 43.9% in the 2nd quarter. GAMMA Investing LLC now owns 223 shares of the fintech company's stock worth $83,000 after buying an additional 68 shares during the period. Worth Venture Partners LLC increased its stake in shares of Dave by 9.4% in the third quarter. Worth Venture Partners LLC now owns 1,258 shares of the fintech company's stock worth $251,000 after acquiring an additional 108 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in shares of Dave by 3.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,933 shares of the fintech company's stock valued at $649,000 after buying an additional 109 shares during the last quarter. Institutional investors own 18.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DAVE. Lake Street Capital reiterated a "buy" rating and issued a $450.00 target price on shares of Dave in a research note on Thursday, August 6th. Weiss Ratings raised Dave from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. Citigroup restated an "outperform" rating on shares of Dave in a research report on Thursday, August 6th. Barrington Research upped their target price on Dave from $290.00 to $310.00 and gave the company an "outperform" rating in a report on Friday, June 12th. Finally, Citizens Jmp increased their price target on shares of Dave from $450.00 to $475.00 and gave the company a "market outperform" rating in a research note on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Dave has an average rating of "Moderate Buy" and a consensus price target of $410.82.

Dave Price Performance

Shares of NASDAQ DAVE opened at $372.85 on Thursday. The stock's 50-day moving average is $377.16 and its two-hundred day moving average is $282.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.22 and a quick ratio of 4.22. Dave Inc. has a 1-year low of $152.21 and a 1-year high of $458.25. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 24.18 and a beta of 3.83.

Dave (NASDAQ:DAVE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.44 by ($2.95). The firm had revenue of $170.79 million during the quarter, compared to analysts' expectations of $171.11 million. Dave had a return on equity of 77.46% and a net margin of 34.58%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Analysts forecast that Dave Inc. will post 13.71 EPS for the current fiscal year.

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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