18,565 Shares in Dave Inc. $DAVE Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC bought a new position in Dave Inc. (NASDAQ:DAVE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,565 shares of the fintech company’s stock, valued at approximately $4,983,000. Dave accounts for about 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Great Lakes Advisors LLC bought a new position in shares of Dave in the first quarter worth about $3,487,000. Bank of New York Mellon Corp boosted its position in shares of Dave by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 34,992 shares of the fintech company’s stock valued at $9,392,000 after acquiring an additional 7,893 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Dave in the second quarter worth $3,221,000. Robeco Institutional Asset Management B.V. bought a new position in Dave during the second quarter worth $2,870,000. Finally, Los Angeles Capital Management LLC bought a new stake in Dave in the 2nd quarter valued at $1,434,000. 18.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dave

In related news, Director Yadin Rozov sold 14,660 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $199.54, for a total transaction of $2,925,256.40. Following the transaction, the director owned 79,923 shares in the company, valued at $15,947,835.42. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Imran Khan sold 39,534 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $223.13, for a total transaction of $8,821,221.42. Following the completion of the sale, the director owned 79,110 shares of the company’s stock, valued at $17,651,814.30. The trade was a 33.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 226,943 shares of company stock valued at $50,301,987 over the last ninety days. 28.48% of the stock is owned by insiders.

Dave Trading Up 5.3%

Shares of DAVE stock opened at $235.45 on Friday. The company has a market capitalization of $3.18 billion, a P/E ratio of 23.33 and a beta of 3.89. Dave Inc. has a 12-month low of $45.61 and a 12-month high of $286.45. The company has a quick ratio of 9.51, a current ratio of 8.69 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $219.77 and a 200 day moving average price of $206.08.

Dave (NASDAQ:DAVE) last posted its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $2.29 by $1.95. The company had revenue of $139.30 million during 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. Research analysts forecast that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Dave declared that its board has initiated a stock repurchase program on Wednesday, August 13th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the fintech company to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

DAVE has been the subject of several research reports. Lake Street Capital reiterated a “buy” rating and issued a $308.00 target price on shares of Dave in a research note on Wednesday. JMP Securities set a $310.00 price objective on Dave in a report on Wednesday. B. Riley restated a “buy” rating and issued a $297.00 target price (up from $277.00) on shares of Dave in a research note on Wednesday. Wall Street Zen upgraded shares of Dave from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a research note on Friday, September 26th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dave has an average rating of “Moderate Buy” and a consensus price target of $304.25.

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.