Dave (NASDAQ:DAVE) CEO Sells $3,532,723.59 in Stock

Dave Inc. (NASDAQ:DAVE) CEO Jason Wilk sold 15,359 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $230.01, for a total transaction of $3,532,723.59. Following the transaction, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at approximately $50,108,598.54. This represents a 6.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Jason Wilk also recently made the following trade(s):

• On Monday, September 15th, Jason Wilk sold 2,948 shares of Dave stock. The shares were sold at an average price of $230.01, for a total transaction of $678,069.48.
• On Thursday, September 4th, Jason Wilk sold 7,557 shares of Dave stock. The shares were sold at an average price of $199.40, for a total transaction of $1,506,865.80.

Dave Trading Up 4.2%

NASDAQ DAVE opened at $227.80 on Friday. Dave Inc. has a 12 month low of $37.44 and a 12 month high of $286.45. The company has a 50-day moving average of $208.24 and a 200-day moving average of $169.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 9.51 and a quick ratio of 9.51. The company has a market cap of $3.08 billion, a P/E ratio of 60.26 and a beta of 3.93.

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

Institutional Trading of Dave

Large investors have recently bought and sold shares of the company. Great Lakes Advisors LLC acquired a new stake in Dave in the first quarter valued at approximately $3,487,000. Leavell Investment Management Inc. grew its position in Dave by 4.6% in the second quarter. Leavell Investment Management Inc. now owns 4,510 shares of the fintech company’s stock valued at $1,211,000 after acquiring an additional 200 shares in the last quarter. AlphaQuest LLC grew its position in Dave by 125.2% in the second quarter. AlphaQuest LLC now owns 4,318 shares of the fintech company’s stock valued at $1,159,000 after acquiring an additional 2,401 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Dave in the second quarter valued at approximately $141,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Dave in the second quarter valued at approximately $913,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Dave in a research note on Monday, August 18th. Piper Sandler reissued a “neutral” rating on shares of Dave in a research report on Tuesday, June 10th. Citigroup reissued an “outperform” rating on shares of Dave in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Dave from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, B. Riley increased their target price on shares of Dave from $239.00 to $277.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.17.

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.