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

OP Asset Management Ltd bought a new stake in shares of Dave Inc. (NASDAQ:DAVE) during the first quarter, Holdings Channel reports. The fund bought 19,982 shares of the fintech company’s stock, valued at approximately $3,479,000.

Other large investors have also modified their holdings of the company. WealthCollab LLC purchased a new stake in shares of Dave in the 2nd quarter worth approximately $30,000. National Bank of Canada FI purchased a new position in Dave during the third quarter valued at approximately $30,000. Blue Trust Inc. increased its holdings in Dave by 106.8% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after buying an additional 79 shares during the period. Kestra Advisory Services LLC bought a new position in Dave in the fourth quarter worth approximately $36,000. Finally, Westend Capital Management LLC raised its stake in Dave by 100.0% in the fourth quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after buying an additional 100 shares in the last quarter. Institutional investors own 18.01% of the company’s stock.

Insider Buying and Selling at Dave

In other news, Director Dan Preston sold 275 shares of the 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 completion of the sale, the director owned 5,466 shares in the company, valued at approximately $1,353,654.90. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jason Wilk sold 8,474 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the completion of the sale, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at $82,501,247.50. The trade was a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 28.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Canaccord Genuity Group increased their target price on Dave from $328.00 to $342.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Benchmark lowered Dave from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Citizens Jmp upped their price objective on Dave from $335.00 to $365.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Lake Street Capital reaffirmed a “buy” rating and set a $332.00 price objective on shares of Dave in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their target price on Dave from $295.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $325.40.

Dave Trading Up 8.0%

NASDAQ DAVE opened at $348.71 on Friday. Dave Inc. has a 52 week low of $152.21 and a 52 week high of $353.02. The company has a 50 day moving average price of $269.89 and a 200 day moving average price of $222.20. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. The firm has a market cap of $4.43 billion, a PE ratio of 22.43 and a beta of 3.87.

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

Dave announced that its Board of Directors has authorized a share buyback program on Monday, March 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the fintech company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Dave Company Profile

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.