Dave Inc. (NASDAQ:DAVE) Director Sells $376,207.26 in Stock

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

Dave Stock Performance

Shares of DAVE traded up $6.62 during mid-day trading on Friday, hitting $249.65. The stock had a trading volume of 401,397 shares, compared to its average volume of 441,967. The firm has a market cap of $3.33 billion, a P/E ratio of 68.70 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. The business has a fifty day moving average price of $170.12 and a 200-day moving average price of $118.79. Dave Inc. has a 52 week low of $28.31 and a 52 week high of $256.00.

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

Dave announced that its Board of Directors has initiated a share repurchase program on Monday, March 10th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the fintech company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Institutional Trading of Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC purchased a new stake in shares of Dave Inc. (NASDAQ:DAVE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 42,179 shares of the fintech company's stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave as of its most recent SEC filing. 18.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. B. Riley upped 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. Lake Street Capital upped their target price on Dave from $118.00 to $177.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen raised Dave from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Barrington Research restated an "outperform" rating and issued a $250.00 price objective on shares of Dave in a research note on Thursday, June 12th. Finally, JMP Securities raised 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Dave currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.33.

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.