Worth Venture Partners LLC Invests $309,000 in Dave Inc. $DAVE

Worth Venture Partners LLC acquired a new position in Dave Inc. (NASDAQ:DAVE) during the second quarter, Holdings Channel reports. The institutional investor acquired 1,150 shares of the fintech company’s stock, valued at approximately $309,000. Dave makes up about 0.5% of Worth Venture Partners LLC’s portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAVE. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Dave during the 2nd quarter worth $359,000. Silver Oak Wealth Advisors Services LLC acquired a new stake in shares of Dave in the 2nd quarter valued at $501,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Dave in the second quarter worth $913,000. Sigma Planning Corp acquired a new position in Dave during the second quarter worth $425,000. Finally, Savant Capital LLC bought a new position in Dave during the second quarter valued at about $681,000. Institutional investors own 18.01% of the company’s stock.

Dave Stock Performance

DAVE opened at $210.30 on Wednesday. The firm has a market capitalization of $2.84 billion, a P/E ratio of 20.84 and a beta of 3.89. The stock’s 50 day moving average price is $219.47 and its two-hundred day moving average price is $215.56. 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 Inc. has a 12-month low of $65.46 and a 12-month high of $286.45.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $1.95. The company had revenue of $150.73 million during the quarter, compared to analyst estimates 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. On average, equities analysts forecast that Dave Inc. will post 1.07 earnings per share for the current year.

Dave declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 13th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the fintech company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. set a $300.00 price target on Dave in a research note on Friday, September 26th. Citizens Jmp boosted their target price on Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. Weiss Ratings downgraded Dave from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. B. Riley reissued a “buy” rating and issued a $297.00 price target (up previously from $277.00) on shares of Dave in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.25.

Insider Activity at Dave

In other Dave news, CEO Jason Wilk sold 81,693 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $230.28, for a total value of $18,812,264.04. Following the completion of the sale, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at $50,167,419.12. This represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yadin Rozov sold 14,660 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $199.54, for a total transaction of $2,925,256.40. Following the completion of the sale, the director owned 79,923 shares in the company, valued at $15,947,835.42. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,943 shares of company stock worth $50,301,987 in the last ninety days. 28.48% of the stock is currently owned by insiders.

About Dave

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.