Insider Selling: Dave Inc. (NASDAQ:DAVE) CEO Sells 172,667 Shares of Stock

Dave Inc. (NASDAQ:DAVE) CEO Jason Wilk sold 172,667 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $211.95, for a total transaction of $36,596,770.65. Following the completion of the sale, the chief executive officer now directly owns 225,411 shares of the company’s stock, valued at approximately $47,775,861.45. The trade was a 43.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Dave Trading Down 1.7%

NASDAQ DAVE opened at $200.88 on Friday. Dave Inc. has a 1 year low of $28.31 and a 1 year high of $243.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.59 and a quick ratio of 8.59. The company has a fifty day moving average of $156.79 and a 200 day moving average of $114.43. The company has a market capitalization of $2.68 billion, a PE ratio of 55.34 and a beta of 3.93.

Dave (NASDAQ:DAVE) last released its earnings results on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $1.15. Dave had a net margin of 13.75% and a return on equity of 34.85%. Research analysts forecast that Dave Inc. will post 1.07 earnings per share for the current year.

Dave announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the fintech company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Dave

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC acquired a new stake in shares of Dave Inc. (NASDAQ:DAVE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 42,179 shares of the fintech company’s stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned approximately 0.33% of Dave at the end of the most recent quarter. Institutional investors own 18.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on DAVE shares. Barrington Research reissued an “outperform” rating and issued a $250.00 price objective on shares of Dave in a research note on Thursday, June 12th. BMO Capital Markets reissued an “outperform” rating on shares of Dave in a research note on Tuesday, June 10th. Benchmark downgraded shares of Dave from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 10th. Lake Street Capital raised their price objective on shares of Dave from $118.00 to $177.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, JMP Securities raised their target price on shares of Dave from $125.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Dave presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.33.

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.