ProShare Advisors LLC Invests $511,000 in Dave Inc. $DAVE

ProShare Advisors LLC bought a new position in shares of Dave Inc. (NASDAQ:DAVE) in the second quarter, HoldingsChannel reports. The firm bought 1,902 shares of the fintech company’s stock, valued at approximately $511,000.

Several other institutional investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its holdings 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 during the last quarter. KLP Kapitalforvaltning AS grew its position in shares of Dave by 11.8% during the second quarter. KLP Kapitalforvaltning AS now owns 1,900 shares of the fintech company’s stock valued at $510,000 after purchasing an additional 200 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in shares of Dave by 4.6% in the second quarter. Leavell Investment Management Inc. now owns 4,510 shares of the fintech company’s stock worth $1,211,000 after purchasing an additional 200 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Dave in the second quarter worth about $141,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Dave in the second quarter worth about $208,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dave

In other Dave news, Director Yadin Rozov sold 14,660 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $199.54, for a total transaction of $2,925,256.40. Following the completion of the transaction, the director owned 79,923 shares in the company, valued at $15,947,835.42. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Wilk sold 81,693 shares of the company’s stock in a transaction that occurred on 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 226,943 shares of company stock worth $50,301,987. Insiders own 28.48% of the company’s stock.

Dave Stock Down 0.2%

Shares of DAVE opened at $190.12 on Thursday. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $221.39 and a 200 day moving average of $212.89. The company has a market cap of $2.57 billion, a PE ratio of 18.84 and a beta of 3.89. Dave Inc. has a 52-week low of $65.46 and a 52-week high of $286.45.

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 analysts’ consensus estimates of $2.29 by $1.95. Dave had a net margin of 29.85% and a return on equity of 65.86%. The business had revenue of $150.73 million for the quarter, compared to analysts’ expectations of $153.09 million. Dave has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Dave Inc. will post 1.07 EPS for the current year.

Dave announced that its Board of Directors has initiated a share buyback program on Wednesday, August 13th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the fintech company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canaccord Genuity Group raised their price target on Dave from $229.00 to $274.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Dave in a research report on Monday, November 3rd. JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a report on Friday, September 26th. Wall Street Zen upgraded shares of Dave from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Benchmark upped their price target on shares of Dave from $320.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Dave has a consensus rating of “Moderate Buy” and a consensus target price of $304.25.

Dave 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.