Semanteon Capital Management LP Takes $358,000 Position in Dave Inc. $DAVE

Semanteon Capital Management LP purchased a new position in Dave Inc. (NASDAQ:DAVE) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,333 shares of the fintech company’s stock, valued at approximately $358,000.

A number of other institutional investors have also modified their holdings of DAVE. Nisa Investment Advisors LLC boosted its stake in Dave by 4,933.3% in the second 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 during the period. KBC Group NV bought a new position in Dave during the 2nd quarter worth $85,000. Catalyst Capital Advisors LLC bought a new stake in Dave in the second quarter valued at $141,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Dave during the second quarter valued at $208,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Dave in the 2nd quarter worth about $213,000. Institutional investors own 18.01% of the company’s stock.

Analyst Ratings Changes

DAVE has been the subject of several analyst reports. JMP Securities set a $310.00 price objective on Dave in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dave in a research report on Tuesday, November 11th. Benchmark raised their price target on Dave from $320.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Citizens Jmp upped their price objective on shares of Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a research note on Friday, September 26th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $304.25.

Insider Activity

In other news, CEO Jason Wilk sold 81,693 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the completion of the sale, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at $50,167,419.12. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yadin Rozov sold 4,726 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $228.06, for a total value of $1,077,811.56. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 226,943 shares of company stock worth $50,301,987. Insiders own 28.48% of the company’s stock.

Dave Price Performance

Shares of Dave stock opened at $205.30 on Monday. Dave Inc. has a 52 week low of $65.46 and a 52 week high of $286.45. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.77 billion, a PE ratio of 20.35 and a beta of 3.89. The company’s 50-day moving average price is $222.43 and its two-hundred day moving average price is $211.76.

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, beating the consensus estimate of $2.29 by $1.95. The company had revenue of $150.73 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. As a group, sell-side analysts anticipate that Dave Inc. will post 1.07 EPS for the current fiscal year.

Dave announced 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 repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.