Dave Inc. (NASDAQ:DAVE) CEO Sells $36,596,770.65 in Stock

Dave Inc. (NASDAQ:DAVE - Get Free Report) CEO Jason Wilk sold 172,667 shares of Dave stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $211.95, for a total value of $36,596,770.65. Following the transaction, the chief executive officer now owns 225,411 shares in the company, valued at approximately $47,775,861.45. This represents a 43.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Dave Trading Down 2.7%

NASDAQ:DAVE traded down $5.61 on Wednesday, reaching $198.65. 578,347 shares of the stock traded hands, compared to its average volume of 438,711. The company has a current ratio of 8.59, a quick ratio of 8.59 and a debt-to-equity ratio of 0.38. Dave Inc. has a 1-year low of $28.31 and a 1-year high of $243.25. The company's 50 day moving average is $154.52 and its 200-day moving average is $113.73. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 54.79 and a beta of 3.93.

Dave (NASDAQ:DAVE - Get Free Report) last announced its earnings results on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, beating the consensus estimate of $0.82 by $1.15. Dave had a return on equity of 34.85% and a net margin of 13.75%. Equities research analysts anticipate that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the fintech company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on DAVE shares. B. Riley boosted their price objective on shares of Dave from $206.00 to $239.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Piper Sandler reissued a "neutral" rating on shares of Dave in a research report on Tuesday, June 10th. Canaccord Genuity Group increased their price objective on shares of Dave from $130.00 to $179.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. JMP Securities lifted their target price on Dave from $125.00 to $200.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Finally, Benchmark lowered Dave from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Dave presently has a consensus rating of "Moderate Buy" and an average target price of $212.33.

Institutional Investors Weigh In On Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC bought a new position in Dave Inc. (NASDAQ:DAVE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned about 0.33% of Dave at the end of the most recent reporting period. 18.01% of the stock is currently owned by institutional investors.

Dave Company Profile

Dave, Inc is a digital banking service. Its products include a budgeting tool to help members manage their upcoming bills to avoid overspending, cash advances through its flagship ExtraCash product to help members avoid punitive overdraft fees, a Side Hustle product, where Dave helps connect members with supplemental work opportunities, and Dave Banking, a modern checking account experience with valuable tools for building long-term financial health.