Michael W. Pope Sells 1,793 Shares of Dave Inc. (NASDAQ:DAVE) Stock

Dave Inc. (NASDAQ:DAVE - Get Free Report) Director Michael W. Pope sold 1,793 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $209.82, for a total value of $376,207.26. Following the completion of the transaction, the director now owns 6,375 shares in the company, valued at $1,337,602.50. This represents a 21.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Dave Trading Up 6.8%

DAVE traded up $14.69 during midday trading on Tuesday, reaching $229.42. 402,656 shares of the company's stock traded hands, compared to its average volume of 442,637. The firm has a fifty day moving average of $167.24 and a two-hundred day moving average of $117.86. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 52.12 and a beta of 3.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59. Dave Inc. has a 52 week low of $28.31 and a 52 week high of $243.25.

Dave (NASDAQ:DAVE - Get Free Report) last announced its earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Dave declared that its board has approved a share buyback plan on Monday, March 10th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the fintech company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC acquired a new stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned approximately 0.33% of Dave as of its most recent SEC filing. 18.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Lake Street Capital upped their price objective on Dave from $118.00 to $177.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen upgraded Dave from a "sell" rating to a "hold" rating in a report on Monday, May 12th. JMP Securities upped their price objective on Dave from $125.00 to $200.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Barrington Research reiterated an "outperform" rating and issued a $250.00 price objective on shares of Dave in a report on Thursday, June 12th. Finally, Benchmark cut Dave from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.33.

About Dave

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.

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