Proem Advisors LLC Sells 100,000 Shares of Dave Inc. $DAVE

Proem Advisors LLC lessened its position in Dave Inc. (NASDAQ:DAVE) by 50.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,771 shares of the fintech company’s stock after selling 100,000 shares during the quarter. Dave makes up about 2.1% of Proem Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Proem Advisors LLC’s holdings in Dave were worth $19,491,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Dave in the third quarter worth $494,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Dave in the third quarter valued at about $3,669,000. Meeder Asset Management Inc. grew its position in Dave by 2.6% during the third quarter. Meeder Asset Management Inc. now owns 4,419 shares of the fintech company’s stock valued at $881,000 after buying an additional 114 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Dave by 5.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,808 shares of the fintech company’s stock worth $759,000 after purchasing an additional 195 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Dave by 17.6% in the third quarter. New York State Teachers Retirement System now owns 840 shares of the fintech company’s stock worth $167,000 after buying an additional 126 shares during the period. Institutional investors own 18.01% of the company’s stock.

Insider Activity at Dave

In other news, CEO Jason Wilk sold 7,393 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total value of $1,506,471.61. Following the transaction, the chief executive officer owned 210,461 shares of the company’s stock, valued at $42,885,637.97. This represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Imran Khan sold 1,146 shares of Dave stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $204.00, for a total transaction of $233,784.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 105,164 shares of company stock worth $20,700,863. Corporate insiders own 28.48% of the company’s stock.

Dave Stock Performance

Shares of DAVE stock opened at $190.40 on Friday. The company has a market capitalization of $2.57 billion, a P/E ratio of 18.87 and a beta of 3.90. The business’s 50 day moving average is $208.28 and its two-hundred day moving average is $213.88. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. Dave Inc. has a 12-month low of $65.46 and a 12-month high of $286.45.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share for the quarter, beating the consensus estimate of $2.29 by $1.95. Dave had a return on equity of 65.86% and a net margin of 29.85%.The business had revenue of $150.73 million for the quarter, compared to the consensus estimate of $153.09 million. Analysts expect that Dave Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DAVE shares. Citizens Jmp upped their price objective on Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th. Wall Street Zen downgraded shares of Dave from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Lake Street Capital reissued a “buy” rating on shares of Dave in a research note on Wednesday, December 24th. Zacks Research lowered Dave from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Barrington Research reissued an “outperform” rating and set a $290.00 price objective on shares of Dave in a report on Monday, November 3rd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Dave currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.25.

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.