Jason Wilk Sells 7,393 Shares of Dave (NASDAQ:DAVE) Stock

Dave Inc. (NASDAQ:DAVE) CEO Jason Wilk sold 7,393 shares of Dave stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the sale, the chief executive officer directly owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Jason Wilk also recently made the following trade(s):

• On Friday, September 19th, Jason Wilk sold 81,693 shares of Dave stock. The shares were sold at an average price of $230.28, for a total value of $18,812,264.04.
• On Friday, September 12th, Jason Wilk sold 15,359 shares of Dave stock. The shares were sold at an average price of $230.01, for a total value of $3,532,723.59.
• On Monday, September 15th, Jason Wilk sold 2,948 shares of Dave stock. The stock was sold at an average price of $230.01, for a total value of $678,069.48.
• On Thursday, September 4th, Jason Wilk sold 7,557 shares of Dave stock. The stock was sold at an average price of $199.40, for a total value of $1,506,865.80.

Dave Stock Up 0.6%

Shares of DAVE traded up $1.12 during mid-day trading on Wednesday, reaching $203.77. The company’s stock had a trading volume of 266,736 shares, compared to its average volume of 502,429. 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 Inc. has a 12-month low of $65.46 and a 12-month high of $286.45. The stock has a market cap of $2.75 billion, a PE ratio of 20.20 and a beta of 3.90. The company’s 50 day moving average is $217.31 and its 200 day moving average is $216.57.

Dave (NASDAQ:DAVE) last posted its earnings results 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. The firm had revenue of $150.73 million during the quarter, compared to analysts’ expectations of $153.09 million. Dave had a return on equity of 65.86% and a net margin of 29.85%. Equities analysts anticipate that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 13th that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the fintech company to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on DAVE shares. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Dave in a research report on Monday, November 3rd. Wall Street Zen raised Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research upgraded Dave from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. JPMorgan Chase & Co. set a $300.00 target price on Dave in a research report on Friday, September 26th. Finally, B. Riley restated a “buy” rating and set a $297.00 price target (up previously from $277.00) on shares of Dave in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.25.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DAVE. SBI Securities Co. Ltd. raised its stake in shares of Dave by 3.2% during the second quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock worth $524,000 after purchasing an additional 60 shares during the last quarter. Brevan Howard Capital Management LP increased its stake in Dave by 1.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock valued at $767,000 after buying an additional 62 shares during the period. JPMorgan Chase & Co. raised its position in Dave by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock worth $2,412,000 after buying an additional 65 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Dave by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company’s stock worth $556,000 after acquiring an additional 88 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Dave by 3.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 2,931 shares of the fintech company’s stock valued at $787,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 18.01% of the company’s stock.

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.