Whetstone Capital Advisors LLC Reduces Holdings in Dave Inc. $DAVE

Key Points

• Whetstone Capital Advisors trimmed its Dave Inc. stake by 1.7% in the fourth quarter, but Dave remains its largest holding at 18.8% of the portfolio, worth about $60.2 million.
• Dave reported a strong quarter, with EPS of $3.64 beating estimates and revenue of $158.4 million topping forecasts. The company also issued FY 2026 guidance of $16.25 to $16.75 EPS.
• Analysts remain broadly bullish: several firms raised targets or reiterated buy ratings, and Dave’s board has authorized a $300 million share buyback program, signaling confidence in the stock.

Whetstone Capital Advisors LLC trimmed its position in Dave Inc. (NASDAQ:DAVE - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 271,947 shares of the fintech company's stock after selling 4,800 shares during the quarter. Dave makes up 18.8% of Whetstone Capital Advisors LLC's holdings, making the stock its largest position. Whetstone Capital Advisors LLC owned about 2.01% of Dave worth $60,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DAVE. JPMorgan Chase & Co. raised its holdings in shares of 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 during the period. Prudential Financial Inc. acquired a new position in Dave in the 2nd quarter valued at about $324,000. Invesco Ltd. grew its stake in Dave by 2,379.9% in the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company's stock valued at $26,166,000 after buying an additional 93,554 shares during the last quarter. First Trust Advisors LP acquired a new position in Dave in the 2nd quarter valued at about $18,710,000. Finally, Cresset Asset Management LLC acquired a new position in Dave in the 2nd quarter valued at about $402,000. 18.01% of the stock is owned by institutional investors.

Dave Stock Performance

Shares of NASDAQ:DAVE opened at $286.78 on Monday. The company's 50 day moving average price is $244.39 and its two-hundred day moving average price is $214.88. Dave Inc. has a 12-month low of $152.21 and a 12-month high of $301.19. The firm has a market cap of $3.64 billion, a PE ratio of 18.44 and a beta of 3.87. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95.

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, topping analysts' consensus estimates of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The firm 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. Equities research analysts predict that Dave Inc. will post 14.7 earnings per share for the current year.

Dave announced that its board has initiated a stock buyback program on Monday, March 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the fintech company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on DAVE shares. B. Riley Financial upped their price target on shares of Dave from $358.00 to $370.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. William Blair reiterated an "accumulate" rating on shares of Dave in a research note on Friday, March 13th. Zacks Research upgraded Dave from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 16th. UBS Group began coverage on Dave in a research note on Tuesday, May 26th. They set a "buy" rating and a $300.00 target price on the stock. Finally, Weiss Ratings upgraded Dave from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. One 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's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $325.40.

Key Dave News

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Barrington Research raised its price target on Dave Inc. (DAVE) from $290 to $310 and reiterated an outperform rating, signaling confidence that the shares still have room to run. Barrington Research raises DAVE price target
• Positive Sentiment: Analyst and commentary pieces pointed to Dave’s 49% six-month rally, AI-driven credit quality, strong first-quarter profitability, and what some view as an attractive valuation, all of which can support continued buying interest. Zacks article on DAVE upside
• Positive Sentiment: Seeking Alpha highlighted how Dave’s CashAI underwriting, ExtraCash growth, and product expansion could drive continued earnings growth and valuation upside over time. Seeking Alpha article on CashAI and Dave
• Neutral Sentiment: An InsiderMonkey piece discussed a bullish thesis on Dave Inc., but it mostly reiterated the stock’s already-strong performance and valuation rather than providing a new catalyst. InsiderMonkey article on Dave stock

Insider Buying and Selling

In other Dave news, CEO Jason Wilk sold 8,474 shares of the 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 transaction, the chief executive officer owned 299,950 shares in the company, valued at $82,501,247.50. This represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dan Preston sold 275 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was 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 approximately $1,353,654.90. The trade was a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 28.48% of the company's stock.

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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