Dave Inc. $DAVE is S Squared Technology LLC’s 3rd Largest Position

S Squared Technology LLC cut its position in Dave Inc. (NASDAQ:DAVE) by 25.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 61,351 shares of the fintech company’s stock after selling 21,000 shares during the period. Dave makes up 6.9% of S Squared Technology LLC’s portfolio, making the stock its 3rd biggest holding. S Squared Technology LLC’s holdings in Dave were worth $16,467,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DAVE. Nisa Investment Advisors LLC grew its position in Dave by 4,933.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock valued at $41,000 after acquiring an additional 148 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Dave in the second quarter valued at $141,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of Dave during the 2nd quarter worth about $208,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Dave during the 2nd quarter worth approximately $213,000. Finally, Pallas Capital Advisors LLC acquired a new position in Dave in the second quarter valued at $227,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

Dave Price Performance

Dave stock opened at $235.45 on Monday. The firm has a market capitalization of $3.18 billion, a PE ratio of 23.33 and a beta of 3.89. Dave Inc. has a 52 week low of $45.61 and a 52 week high of $286.45. The firm’s 50-day simple moving average is $219.77 and its 200 day simple moving average is $206.92. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26.

Dave (NASDAQ:DAVE) last announced its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $1.95. The company had revenue of $139.30 million for the quarter, compared to the consensus estimate 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 predict that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 13th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the fintech company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DAVE. Barrington Research restated an “outperform” rating and set a $290.00 target price on shares of Dave in a research report on Monday, November 3rd. Benchmark increased their price objective on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Citigroup reiterated an “outperform” rating on shares of Dave in a research note on Wednesday. JPMorgan Chase & Co. set a $300.00 price target on Dave in a research note on Friday, September 26th. Finally, Weiss Ratings upgraded shares of Dave from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Dave has a consensus rating of “Moderate Buy” and an average price target of $304.25.

Insider Activity at Dave

In other Dave news, CEO Jason Wilk sold 81,693 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $230.28, for a total value of $18,812,264.04. Following the transaction, the chief executive officer directly owned 217,854 shares in the company, 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 is accessible through this link. Also, Director Imran Khan sold 8,535 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 48,885 shares in the company, valued at $10,642,264.50. This represents a 14.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,943 shares of company stock valued at $50,301,987 over the last quarter. Insiders own 28.48% of the company’s stock.

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.