OP Asset Management Ltd Makes New Investment in Dave Inc. $DAVE

OP Asset Management Ltd acquired a new stake in shares of Dave Inc. (NASDAQ:DAVE) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,982 shares of the fintech company’s stock, valued at approximately $3,479,000. OP Asset Management Ltd owned about 0.15% of Dave as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brevan Howard Capital Management LP lifted its holdings in shares of Dave by 1.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock worth $767,000 after acquiring an additional 62 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Dave by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after purchasing an additional 65 shares during the last quarter. Blue Trust Inc. grew its holdings in Dave by 106.8% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after purchasing an additional 79 shares during the last quarter. Westend Capital Management LLC raised its position in Dave by 100.0% in the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after purchasing an additional 100 shares during the period. Finally, Citizens Financial Group Inc. RI raised its position in Dave by 2.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 3,908 shares of the fintech company’s stock worth $865,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Trading Up 8.0%

DAVE stock opened at $348.71 on Friday. Dave Inc. has a 12 month low of $152.21 and a 12 month high of $353.02. The firm’s 50-day moving average is $269.89 and its 200 day moving average is $222.20. The company has a market capitalization of $4.43 billion, a PE ratio of 22.43 and a beta of 3.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86.

Dave (NASDAQ:DAVE) last released its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.78. The company had revenue of $158.41 million during the quarter, compared to analysts’ expectations of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, research analysts anticipate that Dave Inc. will post 15.44 EPS for the current year.

Dave declared that its Board of Directors has approved a stock repurchase plan on Monday, March 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the fintech company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group began coverage on Dave in a research report on Tuesday, May 26th. They set a “buy” rating and a $300.00 target price for the company. Keefe, Bruyette & Woods increased their price target on Dave from $295.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Canaccord Genuity Group raised their price target on Dave from $328.00 to $342.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Evercore initiated coverage on Dave in a report on Wednesday, May 27th. They set a “hold” rating and a $260.00 price objective for the company. Finally, Lake Street Capital restated a “buy” rating and set a $332.00 price objective on shares of Dave in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dave presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.40.

Insider Buying and Selling

In other Dave news, Director Dan Preston sold 275 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director directly owned 5,466 shares in the company, valued at $1,353,654.90. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jason Wilk sold 8,474 shares of Dave stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total value of $2,330,773.70. Following the sale, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 28.48% of the stock is currently owned by insiders.

About Dave

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.