Jupiter Asset Management Ltd. Purchases 30,618 Shares of Dave Inc. $DAVE

Jupiter Asset Management Ltd. raised its holdings in shares of Dave Inc. (NASDAQ:DAVE) by 93.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,252 shares of the fintech company’s stock after purchasing an additional 30,618 shares during the quarter. Jupiter Asset Management Ltd. owned 0.47% of Dave worth $16,977,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DAVE. SBI Securities Co. Ltd. boosted its position in Dave by 3.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock valued at $524,000 after acquiring an additional 60 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Dave in the second quarter worth $511,000. Lisanti Capital Growth LLC acquired a new stake in Dave during the 2nd quarter worth about $4,983,000. Los Angeles Capital Management LLC acquired a new stake in shares of Dave during the second quarter worth about $1,434,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Dave in the 2nd quarter valued at $709,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Price Performance

Shares of DAVE opened at $241.59 on Thursday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 23.94 and a beta of 3.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69. The firm has a 50-day simple moving average of $221.80 and a 200-day simple moving average of $209.30. Dave Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $286.45.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $1.95. The business had revenue of $139.30 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%. Dave has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Dave Inc. will post 1.07 earnings per share for the current year.

Dave announced that its board has authorized a share buyback plan on Wednesday, August 13th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the fintech company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CEO Jason Wilk sold 81,693 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the completion of the sale, the chief executive officer owned 217,854 shares of the company’s stock, valued at approximately $50,167,419.12. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yadin Rozov sold 4,726 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $228.06, for a total value of $1,077,811.56. Following the sale, the director owned 75,197 shares in the company, valued at approximately $17,149,427.82. The trade was a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,943 shares of company stock valued at $50,301,987 in the last ninety days. Company insiders own 28.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DAVE shares. Wall Street Zen raised shares of Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Dave in a research report on Tuesday. Lake Street Capital reaffirmed a “buy” rating and set a $308.00 price objective on shares of Dave in a research note on Wednesday, November 5th. B. Riley reaffirmed a “buy” rating and issued a $297.00 target price (up from $277.00) on shares of Dave in a research note on Wednesday, November 5th. Finally, Zacks Research raised shares of Dave from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Dave presently has an average rating of “Moderate Buy” and a consensus target price of $304.25.

Dave 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.