2,900 Shares in Dave Inc. $DAVE Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new position in Dave Inc. (NASDAQ:DAVE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,900 shares of the fintech company’s stock, valued at approximately $778,000.

Other institutional investors also recently added to or reduced their stakes in the company. Silver Oak Wealth Advisors Services LLC purchased a new position in Dave in the 2nd quarter worth about $501,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Dave during the 2nd quarter valued at about $913,000. Great Lakes Advisors LLC purchased a new position in Dave during the 1st quarter valued at about $3,487,000. Baader Bank Aktiengesellschaft purchased a new position in Dave during the 2nd quarter valued at about $591,000. Finally, AlphaQuest LLC increased its position in Dave by 125.2% during the 2nd quarter. AlphaQuest LLC now owns 4,318 shares of the fintech company’s stock valued at $1,159,000 after purchasing an additional 2,401 shares during the period. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Analysts Set New Price Targets

DAVE has been the topic of a number of research reports. Wall Street Zen downgraded shares of Dave from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Barrington Research reissued an “outperform” rating and set a $290.00 target price on shares of Dave in a research report on Monday. B. Riley raised their price target on shares of Dave from $239.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. set a $300.00 price target on shares of Dave in a report on Friday, September 26th. Finally, Zacks Research upgraded shares of Dave from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $274.13.

Dave Stock Up 0.3%

DAVE stock opened at $240.11 on Tuesday. The firm has a 50 day moving average of $217.97 and a 200 day moving average of $202.67. The stock has a market capitalization of $3.24 billion, a PE ratio of 63.52 and a beta of 3.88. The company has a quick ratio of 9.51, a current ratio of 9.51 and a debt-to-equity ratio of 0.35. Dave Inc. has a 52 week low of $37.44 and a 52 week high of $286.45.

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

Insider Buying and Selling

In related news, Director Yadin Rozov sold 4,726 shares of Dave stock in a transaction that occurred on 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 completion of the sale, the director directly owned 75,197 shares in the company, valued at $17,149,427.82. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Imran Khan sold 8,535 shares of Dave 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 completion of the sale, the director owned 48,885 shares of the company’s stock, valued at $10,642,264.50. This trade represents a 14.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 226,943 shares of company stock worth $50,301,987 in the last three months. Corporate insiders own 28.48% of the company’s stock.

About Dave

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.