Dave Inc. $DAVE Stock Holdings Lifted by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Dave Inc. (NASDAQ:DAVE) by 34.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,223 shares of the fintech company’s stock after acquiring an additional 1,092 shares during the period. SG Americas Securities LLC’s holdings in Dave were worth $1,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Dave by 14.6% during the second quarter. Geode Capital Management LLC now owns 207,773 shares of the fintech company’s stock worth $55,774,000 after acquiring an additional 26,515 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Dave by 93.8% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 63,252 shares of the fintech company’s stock valued at $16,977,000 after purchasing an additional 30,618 shares during the period. Great Lakes Advisors LLC bought a new position in Dave in the 1st quarter worth about $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 last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Dave during the second quarter worth approximately $4,983,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

Dave Trading Up 6.7%

Shares of NASDAQ:DAVE opened at $194.68 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 19.29 and a beta of 3.89. Dave Inc. has a 1-year low of $65.46 and a 1-year high of $286.45. The company has a 50 day moving average price of $219.85 and a 200 day moving average price of $213.30.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $1.95. The company had revenue of $150.73 million during the quarter, compared to the consensus estimate of $153.09 million. Dave had a return on equity of 65.86% and a net margin of 29.85%. Dave has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave announced that its board has initiated a share buyback plan on Wednesday, August 13th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the fintech company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on DAVE shares. JMP Securities set a $310.00 target price on Dave in a research report on Wednesday, November 5th. B. Riley reissued a “buy” rating and set a $297.00 price target (up from $277.00) on shares of Dave in a report on Wednesday, November 5th. Wall Street Zen raised shares of Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Citigroup reiterated an “outperform” rating on shares of Dave in a research report on Wednesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and set a $290.00 target price on shares of Dave in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $304.25.

Insider Activity

In related news, CEO Jason Wilk sold 81,693 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 217,854 shares in the company, valued at $50,167,419.12. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Imran Khan sold 8,535 shares of Dave stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $217.70, for a total value of $1,858,069.50. Following the completion of the transaction, the director directly owned 48,885 shares in the company, valued at $10,642,264.50. This represents a 14.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 226,943 shares of company stock valued at $50,301,987 over the last three months. Insiders own 28.48% of the company’s stock.

Dave 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.