Meros Investment Management LP Reduces Position in Dave Inc. $DAVE

Meros Investment Management LP cut its stake in shares of Dave Inc. (NASDAQ:DAVE) by 45.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,667 shares of the fintech company’s stock after selling 3,102 shares during the quarter. Meros Investment Management LP’s holdings in Dave were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brevan Howard Capital Management LP boosted its holdings in Dave by 1.6% in the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock valued at $767,000 after purchasing an additional 62 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock worth $2,412,000 after acquiring an additional 65 shares during the period. Blue Trust Inc. raised its position in shares of Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after acquiring an additional 79 shares during the period. Westend Capital Management LLC raised its position in shares of Dave by 100.0% during the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of Dave by 2.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 3,908 shares of the fintech company’s stock worth $865,000 after purchasing an additional 100 shares during the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen downgraded shares of Dave from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Citizens Jmp increased their price objective on shares of Dave from $335.00 to $365.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. UBS Group started coverage on shares of Dave in a research note on Tuesday, May 26th. They set a “buy” rating and a $300.00 price target on the stock. Zacks Research upgraded shares of Dave from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Finally, Weiss Ratings upgraded shares of Dave from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $325.40.

Dave Stock Up 7.7%

DAVE stock opened at $308.75 on Tuesday. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. Dave Inc. has a fifty-two week low of $152.21 and a fifty-two week high of $315.08. The firm’s 50-day simple moving average is $247.11 and its 200 day simple moving average is $215.57. The stock has a market cap of $3.92 billion, a PE ratio of 19.86 and a beta of 3.87.

Dave (NASDAQ:DAVE) last released its earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. The firm had revenue of $158.41 million for the quarter, compared to analysts’ expectations of $153.67 million. Dave had a net margin of 37.22% and a return on equity of 77.70%. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, sell-side analysts predict that Dave Inc. will post 14.7 EPS for the current year.

Dave declared that its Board of Directors has initiated a stock buyback program on Monday, March 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the fintech company to buy up to 11.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Dave news, CEO Jason Wilk sold 8,474 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the transaction, the chief executive officer owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan Preston sold 275 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director directly owned 5,466 shares in the company, valued at approximately $1,353,654.90. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. 28.48% of the stock is currently owned by company insiders.

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.