Intech Investment Management LLC Acquires 1,002 Shares of Dave Inc. $DAVE

Intech Investment Management LLC increased its stake in shares of Dave Inc. (NASDAQ:DAVE) by 24.7% during the second quarter, HoldingsChannel reports. The fund owned 5,051 shares of the fintech company’s stock after acquiring an additional 1,002 shares during the quarter. Intech Investment Management LLC’s holdings in Dave were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of DAVE. Geode Capital Management LLC boosted its holdings in Dave by 14.6% in the 2nd quarter. Geode Capital Management LLC now owns 207,773 shares of the fintech company’s stock valued at $55,774,000 after purchasing an additional 26,515 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Dave by 93.8% during the second quarter. Jupiter Asset Management Ltd. now owns 63,252 shares of the fintech company’s stock valued at $16,977,000 after buying an additional 30,618 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Dave in the first quarter valued at about $3,487,000. Bank of New York Mellon Corp grew its position in Dave by 29.1% during the second quarter. Bank of New York Mellon Corp now owns 34,992 shares of the fintech company’s stock worth $9,392,000 after buying an additional 7,893 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Dave during the second quarter worth about $4,983,000. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DAVE has been the subject of a number of research reports. Citizens Jmp raised their price objective on Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. Barrington Research restated an “outperform” rating and issued a $290.00 target price on shares of Dave in a research note on Monday, November 3rd. Benchmark raised their target price on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Dave from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Canaccord Genuity Group increased their price objective on shares of Dave from $229.00 to $274.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Dave currently has a consensus rating of “Buy” and a consensus price target of $304.25.

Insider Buying and Selling

In other Dave news, Director Yadin Rozov sold 4,726 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $228.06, for a total transaction of $1,077,811.56. Following the sale, the director directly owned 75,197 shares of the company’s stock, valued at approximately $17,149,427.82. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Imran Khan sold 8,535 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $217.70, for a total transaction of $1,858,069.50. Following the sale, the director directly owned 48,885 shares of the company’s stock, valued at approximately $10,642,264.50. The trade was a 14.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,943 shares of company stock worth $50,301,987 in the last quarter. 28.48% of the stock is owned by corporate insiders.

Dave Price Performance

Dave stock opened at $194.68 on Monday. The business has a 50 day simple moving average of $219.85 and a 200 day simple moving average of $214.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.69 and a quick ratio of 8.69. The company has a market capitalization of $2.63 billion, a PE ratio of 19.29 and a beta of 3.89. Dave Inc. has a one year low of $65.46 and a one year high of $286.45.

Dave (NASDAQ:DAVE) last released its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $1.95. The firm had revenue of $150.73 million during the quarter, compared to analyst estimates of $153.09 million. Dave had a return on equity of 65.86% and a net margin of 29.85%. Dave has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave announced that its board has approved a share buyback program on Wednesday, August 13th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the fintech company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.