First Trust Advisors LP Trims Position in Dave Inc. $DAVE

First Trust Advisors LP decreased its holdings in shares of Dave Inc. (NASDAQ:DAVE) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,351 shares of the fintech company’s stock after selling 6,600 shares during the quarter. First Trust Advisors LP’s holdings in Dave were worth $10,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. WealthCollab LLC acquired a new position in Dave in the second quarter valued at $30,000. National Bank of Canada FI acquired a new stake in Dave in the 3rd quarter worth about $30,000. Blue Trust Inc. boosted its stake in Dave by 106.8% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after buying an additional 79 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Dave in the 4th quarter valued at about $36,000. Finally, Harbour Investments Inc. purchased a new stake in Dave in the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Insider Activity

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

Dave Stock Performance

NASDAQ:DAVE opened at $372.69 on Friday. The firm’s fifty day simple moving average is $343.41 and its 200 day simple moving average is $254.46. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.95. Dave Inc. has a twelve month low of $152.21 and a twelve month high of $458.25. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 23.97 and a beta of 3.82.

Dave (NASDAQ:DAVE) last announced 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 firm had revenue of $158.41 million during the quarter, compared to the consensus estimate of $153.67 million. Dave has set its FY 2026 guidance at 16.250-16.750 EPS. As a group, equities research analysts expect that Dave Inc. will post 15.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on DAVE. B. Riley Financial upped their price objective on shares of Dave from $358.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Citigroup reissued an “outperform” rating on shares of Dave in a research report on Thursday, July 9th. Canaccord Genuity Group boosted their target price on shares of Dave from $328.00 to $342.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods upped their price target on shares of Dave from $340.00 to $485.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, Benchmark increased their price target on shares of Dave from $345.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $379.40.

About Dave

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.