Entropy Technologies LP Takes $1.02 Million Position in Dave Inc. $DAVE

Entropy Technologies LP bought a new stake in Dave Inc. (NASDAQ:DAVE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,800 shares of the fintech company’s stock, valued at approximately $1,020,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Great Lakes Advisors LLC bought a new position in Dave in the first quarter valued at approximately $3,487,000. Pallas Capital Advisors LLC bought a new stake in shares of Dave during the 2nd quarter worth approximately $227,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Dave in the 2nd quarter valued at approximately $591,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Dave in the second quarter valued at $656,000. Finally, Harbour Capital Advisors LLC acquired a new position in Dave during the second quarter worth $621,000. Institutional investors own 18.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Yadin Rozov sold 14,660 shares of the firm’s 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 transaction, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason Wilk sold 81,693 shares of Dave stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the completion of the sale, the chief executive officer 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 226,943 shares of company stock valued at $50,301,987. 28.48% of the stock is owned by company insiders.

Dave Stock Performance

NASDAQ:DAVE opened at $194.68 on Friday. The stock has a 50 day simple moving average of $219.85 and a 200 day simple moving average of $214.05. The stock has a market cap of $2.63 billion, a P/E 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 current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26.

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

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

Wall Street Analysts Forecast Growth

DAVE has been the subject of a number of recent analyst reports. Citizens Jmp increased their price target on shares of Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Citigroup reiterated an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. JMP Securities set a $310.00 price target on Dave in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Dave in a research note on Monday, November 17th. Finally, B. Riley reiterated a “buy” rating and set a $297.00 target price (up from $277.00) on shares of Dave in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Dave has a consensus rating of “Buy” and an average price target of $304.25.

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.