Dave (NASDAQ:DAVE) Trading Down 8.1% – Here’s Why

Shares of Dave Inc. (NASDAQ:DAVE) dropped 8.1% on Monday . The company traded as low as $223.00 and last traded at $220.0140. Approximately 129,783 shares were traded during trading, a decline of 54% from the average daily volume of 281,337 shares. The stock had previously closed at $239.35.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. set a $300.00 price target on Dave in a report on Friday, September 26th. Citizens Jmp upped their price target on shares of Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, JMP Securities set a $310.00 price objective on shares of Dave in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $304.25.

Dave Price Performance

The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.50 billion, a P/E ratio of 18.38 and a beta of 3.90. The company has a fifty day simple moving average of $213.55 and a two-hundred day simple moving average of $216.93.

Dave (NASDAQ:DAVE) last issued its earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $1.95. The company had revenue of $150.73 million for the quarter, compared to analyst estimates of $153.09 million. Dave had a net margin of 29.85% and a return on equity of 65.86%. Sell-side analysts expect that Dave Inc. will post 1.07 EPS for the current fiscal year.

Insider Transactions at Dave

In other news, Director Imran Khan sold 1,146 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $204.00, for a total transaction of $233,784.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason Wilk sold 7,393 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the completion of the sale, the chief executive officer directly owned 210,461 shares of the company’s stock, valued at $42,885,637.97. The trade was a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,164 shares of company stock valued at $20,700,863 in the last quarter. 28.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Dave

Several hedge funds have recently bought and sold shares of the stock. Pallas Capital Advisors LLC acquired a new stake in shares of Dave in the 2nd quarter valued at about $227,000. Baader Bank Aktiengesellschaft bought a new position in shares of Dave during the second quarter worth about $591,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Dave in the 2nd quarter valued at approximately $656,000. Harbour Capital Advisors LLC acquired a new stake in Dave in the 2nd quarter valued at approximately $621,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Dave in the 2nd quarter valued at approximately $2,870,000. 18.01% of the stock is currently owned by institutional investors and hedge funds.

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.