Estuary Capital Management LP Invests $20.56 Million in Dave Inc. $DAVE

Estuary Capital Management LP acquired a new stake in Dave Inc. (NASDAQ:DAVE) in the 1st quarter, Holdings Channel reports. The fund acquired 118,077 shares of the fintech company’s stock, valued at approximately $20,556,000. Dave comprises approximately 3.4% of Estuary Capital Management LP’s portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. WealthCollab LLC acquired a new position in shares of Dave during the second quarter valued at approximately $30,000. National Bank of Canada FI acquired a new stake in Dave in the third quarter worth approximately $30,000. Blue Trust Inc. lifted its position in 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 purchasing an additional 79 shares during the period. Kestra Advisory Services LLC bought a new position in Dave during the 4th quarter valued at $36,000. Finally, Westend Capital Management LLC boosted its stake in Dave by 100.0% during the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. 18.01% of the stock is currently owned by institutional investors.

Dave Trading Up 0.7%

Shares of NASDAQ:DAVE opened at $405.65 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 26.09 and a beta of 3.82. Dave Inc. has a 1-year low of $152.21 and a 1-year high of $458.25. The company has a 50 day moving average price of $331.74 and a 200 day moving average price of $250.44.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.78. Dave had a return on equity of 77.70% and a net margin of 37.22%.The company had revenue of $158.41 million for the quarter, compared to analysts’ expectations of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, research analysts anticipate that Dave Inc. will post 15.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup reiterated an “outperform” rating on shares of Dave in a research report on Thursday, July 9th. Evercore began coverage on Dave in a research note on Wednesday, May 27th. They set a “hold” rating and a $260.00 target price for the company. Barrington Research raised their target price on Dave from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, June 12th. Keefe, Bruyette & Woods lifted their target price on Dave from $340.00 to $485.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Benchmark boosted their price target on shares of Dave from $345.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $379.40.

Insiders Place Their Bets

In related news, Director Dan Preston sold 275 shares of Dave stock in a transaction 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 directly owned 5,466 shares in the company, valued at $1,353,654.90. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason Wilk sold 8,474 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 299,950 shares in the company, valued at $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 28.48% of the company’s stock.

Dave 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.