1,582 Shares in Dave Inc. $DAVE Acquired by Sigma Planning Corp

Sigma Planning Corp acquired a new stake in Dave Inc. (NASDAQ:DAVE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,582 shares of the fintech company’s stock, valued at approximately $425,000.

A number of other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Dave in the second quarter valued at $377,000. Y Intercept Hong Kong Ltd acquired a new position in Dave in the 2nd quarter worth $1,399,000. Nisa Investment Advisors LLC boosted its position in Dave by 4,933.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock valued at $41,000 after buying an additional 148 shares during the last quarter. Leavell Investment Management Inc. grew its stake in shares of Dave by 4.6% during the second quarter. Leavell Investment Management Inc. now owns 4,510 shares of the fintech company’s stock valued at $1,211,000 after acquiring an additional 200 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Dave by 125.2% during the second quarter. AlphaQuest LLC now owns 4,318 shares of the fintech company’s stock valued at $1,159,000 after acquiring an additional 2,401 shares in the last quarter. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Price Performance

Shares of DAVE opened at $235.45 on Friday. Dave Inc. has a 52 week low of $45.61 and a 52 week high of $286.45. The company has a current ratio of 8.69, a quick ratio of 9.51 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 23.33 and a beta of 3.89. The stock has a 50 day moving average of $219.77 and a 200-day moving average of $206.08.

Dave (NASDAQ:DAVE) last announced its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $1.95. The firm had revenue of $139.30 million for 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%. Dave has set its FY 2025 guidance at EPS. As a group, analysts forecast that Dave Inc. will post 1.07 EPS for the current year.

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

Analysts Set New Price Targets

Several research analysts recently commented on DAVE shares. Citizens Jmp boosted their price target on Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Benchmark upped their target price on Dave from $320.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Research raised shares of Dave from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Lake Street Capital restated a “buy” rating and issued a $308.00 price target on shares of Dave in a research note on Wednesday. Finally, B. Riley reaffirmed a “buy” rating and issued a $297.00 price target (up from $277.00) on shares of Dave in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dave has an average rating of “Moderate Buy” and an average target price of $304.25.

Insider Transactions at Dave

In other Dave news, Director Imran Khan sold 39,534 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $223.13, for a total value of $8,821,221.42. Following the transaction, the director owned 79,110 shares of the company’s stock, valued at $17,651,814.30. This trade represents a 33.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yadin Rozov sold 14,660 shares of Dave stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $199.54, for a total value of $2,925,256.40. Following the completion of the transaction, the director owned 79,923 shares of the company’s stock, valued at approximately $15,947,835.42. The trade was a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 226,943 shares of company stock worth $50,301,987. 28.48% of the stock is currently owned by insiders.

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.