Teachers Retirement System of The State of Kentucky Has $1.44 Million Stake in Dave Inc. $DAVE

Teachers Retirement System of The State of Kentucky lifted its position in Dave Inc. (NASDAQ:DAVE) by 92.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,273 shares of the fintech company’s stock after buying an additional 3,971 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Dave were worth $1,440,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DAVE. Ameriprise Financial Inc. raised its position in Dave by 819.3% during the third quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock valued at $41,666,000 after acquiring an additional 186,273 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Dave in the fourth quarter worth approximately $27,874,000. Wellington Management Group LLP increased its stake in shares of Dave by 200.7% during the 3rd quarter. Wellington Management Group LLP now owns 177,103 shares of the fintech company’s stock worth $35,305,000 after purchasing an additional 118,203 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Dave by 29.2% during the 4th quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company’s stock worth $110,506,000 after purchasing an additional 112,700 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Dave by 2,379.9% during the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock valued at $26,166,000 after purchasing an additional 93,554 shares in the last quarter. Institutional investors and hedge funds own 18.01% of the company’s stock.

Wall Street Analysts Forecast Growth

DAVE has been the subject of several analyst reports. Benchmark lifted their price objective on shares of Dave from $345.00 to $475.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Citigroup reissued an “outperform” rating on shares of Dave in a research report on Thursday, July 9th. Citizens Jmp raised their target price on Dave from $365.00 to $450.00 and gave the company a “market outperform” rating in a report on Thursday, July 9th. Barrington Research boosted their price target on Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, June 12th. Finally, Lake Street Capital reiterated a “buy” rating and set a $332.00 price target on shares of Dave in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Dave currently has an average rating of “Buy” and a consensus price target of $379.40.

Insider Buying and Selling

In other Dave news, CEO Jason Wilk sold 8,474 shares of Dave stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dan Preston sold 275 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total value of $68,103.75. Following the transaction, the director owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 28.48% of the company’s stock.

Key Headlines Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: UBS Group raised its price target on Dave Inc. to $470 from $300 and kept a Buy rating, reinforcing a bullish view after the stock’s strong run. Benzinga
• Positive Sentiment: Investors also appear to be responding to prior company updates around leadership and funding strategy, including a new CTO appointment and the transition of ExtraCash originations to Coastal Community Bank, which could improve liquidity and lower funding costs.
• Positive Sentiment: The stock has been benefiting from momentum tied to strong recent operating results, including revenue growth and improving credit quality, while elevated short interest may be amplifying gains as buyers step in.

Dave Trading Up 5.1%

Shares of NASDAQ:DAVE opened at $438.19 on Thursday. The company has a market cap of $5.57 billion, a P/E ratio of 28.18 and a beta of 3.82. The stock’s 50-day moving average is $302.68 and its 200-day moving average is $239.20. Dave Inc. has a 52-week low of $152.21 and a 52-week high of $442.82. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86.

Dave (NASDAQ:DAVE) last posted its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.78. Dave had a return on equity of 77.70% and a net margin of 37.22%.The business had revenue of $158.41 million for the quarter, compared to analyst estimates of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. Equities research analysts predict that Dave Inc. will post 15.45 earnings per share for the current year.

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.