Worth Venture Partners LLC Purchases Shares of 1,150 Dave Inc. $DAVE

Worth Venture Partners LLC acquired a new position in Dave Inc. (NASDAQ:DAVE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,150 shares of the fintech company’s stock, valued at approximately $309,000. Dave makes up 0.5% of Worth Venture Partners LLC’s holdings, making the stock its 15th largest holding.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in Dave by 4,933.3% during the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after acquiring an additional 148 shares during the period. KBC Group NV bought a new position in shares of Dave during the 2nd quarter valued at about $85,000. Catalyst Capital Advisors LLC bought a new position in shares of Dave during the 2nd quarter valued at about $141,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Dave in the 2nd quarter worth approximately $208,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Dave in the 2nd quarter worth approximately $213,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

Insider Buying and Selling at Dave

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 shares were sold at an average price of $230.28, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Imran Khan sold 39,534 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $223.13, for a total transaction of $8,821,221.42. Following the completion of the transaction, the director owned 79,110 shares in the company, valued at approximately $17,651,814.30. This represents a 33.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,943 shares of company stock valued at $50,301,987 in the last 90 days. 28.48% of the stock is currently owned by corporate insiders.

Dave Price Performance

DAVE opened at $210.30 on Wednesday. The stock has a fifty day moving average of $219.47 and a 200-day moving average of $215.56. The firm has a market capitalization of $2.84 billion, a P/E ratio of 20.84 and a beta of 3.89. Dave Inc. has a 12-month low of $65.46 and a 12-month high of $286.45. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26.

Dave (NASDAQ:DAVE) last issued its quarterly 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. The business had revenue of $150.73 million for 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. Equities analysts forecast that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave declared that its board has approved a stock repurchase plan on Wednesday, August 13th that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the fintech company to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DAVE. Canaccord Genuity Group raised their target price on shares of Dave from $229.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings lowered Dave from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Citizens Jmp boosted their target price on Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. B. Riley reaffirmed a “buy” rating and set a $297.00 target price (up from $277.00) on shares of Dave in a report on Wednesday, November 5th. Finally, Benchmark lifted their price target on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.