Insider Selling: Dave Inc (NASDAQ:DAVE) Director Sells 5,500 Shares of Stock

Dave Inc (NASDAQ:DAVE) Director Yadin Rozov sold 5,500 shares of Dave stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $206.94, for a total value of $1,138,170.00. Following the completion of the sale, the director now directly owns 95,678 shares in the company, valued at $19,799,605.32. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dave Trading Up 5.9%

NASDAQ:DAVE opened at $221.55 on Friday. Dave Inc has a 1 year low of $28.31 and a 1 year high of $222.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.81 and a current ratio of 6.81. The stock has a market cap of $2.96 billion, a P/E ratio of 70.78 and a beta of 3.93. The stock has a 50-day simple moving average of $134.52 and a 200-day simple moving average of $106.84.

Dave (NASDAQ:DAVE) last posted its earnings results on Thursday, May 8th. The fintech company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $0.82 by $1.15. Dave had a return on equity of 17.16% and a net margin of 12.92%. As a group, analysts anticipate that Dave Inc will post 1.07 earnings per share for the current fiscal year.

Dave announced that its board has approved a stock buyback plan on Monday, March 10th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the fintech company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Dave

A hedge fund recently bought a new stake in Dave stock. Great Lakes Advisors LLC bought a new position in shares of Dave Inc (NASDAQ:DAVE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,179 shares of the fintech company’s stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned approximately 0.33% of Dave at the end of the most recent quarter. Institutional investors own 18.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Benchmark lifted their price objective on Dave from $202.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Canaccord Genuity Group lifted their target price on Dave from $130.00 to $179.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Lake Street Capital lifted their price objective on Dave from $118.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Wall Street Zen raised Dave from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Barrington Research boosted their target price on Dave from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Dave has a consensus rating of “Buy” and a consensus price target of $189.00.

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.