1,339 Shares in Dave Inc. $DAVE Purchased by Comprehensive Financial Planning Inc. PA

Comprehensive Financial Planning Inc. PA bought a new position in Dave Inc. (NASDAQ:DAVE) in the second quarter, HoldingsChannel reports. The fund bought 1,339 shares of the fintech company’s stock, valued at approximately $359,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Jupiter Asset Management Ltd. grew its stake in shares of Dave by 93.8% in the second quarter. Jupiter Asset Management Ltd. now owns 63,252 shares of the fintech company’s stock worth $16,977,000 after acquiring an additional 30,618 shares during the period. Great Lakes Advisors LLC bought a new stake in Dave in the 1st quarter worth approximately $3,487,000. Bank of New York Mellon Corp grew its position in Dave by 29.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 34,992 shares of the fintech company’s stock worth $9,392,000 after purchasing an additional 7,893 shares during the period. Lisanti Capital Growth LLC purchased a new stake in Dave during the 2nd quarter valued at $4,983,000. Finally, Penserra Capital Management LLC bought a new position in shares of Dave during the 2nd quarter valued at $3,221,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Stock Performance

Shares of NASDAQ DAVE opened at $241.21 on Wednesday. The stock has a market cap of $3.26 billion, a PE ratio of 23.91 and a beta of 3.89. Dave Inc. has a 1 year low of $59.18 and a 1 year high of $286.45. The firm has a fifty day moving average price of $221.07 and a 200-day moving average price of $209.07. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.69 and a quick ratio of 8.69.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $1.95. Dave had a net margin of 29.85% and a return on equity of 65.86%. The company had revenue of $139.30 million for the quarter, compared to analysts’ expectations of $153.09 million. Dave has set its FY 2025 guidance at EPS. 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 stock repurchase program on Wednesday, August 13th that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the fintech company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Jason Wilk sold 81,693 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $230.28, for a total value of $18,812,264.04. Following the transaction, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at approximately $50,167,419.12. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yadin Rozov sold 14,660 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $199.54, for a total transaction of $2,925,256.40. Following the sale, the director directly owned 79,923 shares of the company’s stock, valued at approximately $15,947,835.42. This trade represents a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 226,943 shares of company stock worth $50,301,987 over the last ninety days. Corporate insiders own 28.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DAVE. Benchmark lifted their price objective on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Citizens Jmp boosted their price target on Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Canaccord Genuity Group upped their price target on shares of Dave from $229.00 to $274.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings raised shares of Dave from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, November 5th. Finally, Barrington Research restated an “outperform” rating and set a $290.00 target price on shares of Dave in a research report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $304.25.

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.