Key Points
- CEO Jason Wilk sold 7,393 shares of Dave (NASDAQ:DAVE) on Dec. 2 at an average price of $203.77 for a total of about $1.506 million, leaving him with 210,461 shares (a 3.39% ownership decrease).
- The Dec. 2 sale continues a string of large insider dispositions this year, including an 81,693‑share sale on Sept. 19 for roughly $18.8 million, signaling notable ongoing insider cashing‑out activity.
- Despite the insider selling, Dave posted a strong quarter (EPS $4.24 vs. $2.29 expected), its board authorized a $125 million buyback (~5.1% of shares), and analysts hold a consensus "Moderate Buy" with an average target near $304.25.
Dave Inc. (NASDAQ:DAVE - Get Free Report) CEO Jason Wilk sold 7,393 shares of Dave stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the completion of the transaction, the chief executive officer directly owned 210,461 shares in the company, valued at $42,885,637.97. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Jason Wilk also recently made the following trade(s):
- On Friday, September 19th, Jason Wilk sold 81,693 shares of Dave stock. The stock was sold at an average price of $230.28, for a total transaction of $18,812,264.04.
- On Friday, September 12th, Jason Wilk sold 15,359 shares of Dave stock. The shares were sold at an average price of $230.01, for a total transaction of $3,532,723.59.
- On Monday, September 15th, Jason Wilk sold 2,948 shares of Dave stock. The shares were sold at an average price of $230.01, for a total transaction of $678,069.48.
- On Thursday, September 4th, Jason Wilk sold 7,557 shares of Dave stock. The stock was sold at an average price of $199.40, for a total value of $1,506,865.80.
Dave Stock Performance
Shares of DAVE stock opened at $203.77 on Thursday. The stock's 50-day moving average price is $216.81 and its 200 day moving average price is $216.48. 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 stock has a market capitalization of $2.75 billion, a PE ratio of 20.20 and a beta of 3.90. Dave Inc. has a 52-week low of $65.46 and a 52-week high of $286.45.
Dave (NASDAQ:DAVE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The fintech company reported $4.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $1.95. Dave had a return on equity of 65.86% and a net margin of 29.85%.The company had revenue of $150.73 million during the quarter, compared to analysts' expectations of $153.09 million. As a group, equities research analysts forecast that Dave Inc. will post 1.07 EPS for the current year.
Dave announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 13th that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the fintech company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
DAVE has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Dave from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. B. Riley reissued a "buy" rating and set a $297.00 price target (up from $277.00) on shares of Dave in a report on Wednesday, November 5th. Benchmark raised their price objective on shares of Dave from $320.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday, November 5th. Lake Street Capital reiterated a "buy" rating and set a $308.00 target price on shares of Dave in a research report on Wednesday, November 5th. Finally, JMP Securities set a $310.00 price target on Dave in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $304.25.
View Our Latest Report on DAVE
Hedge Funds Weigh In On Dave
Hedge funds have recently bought and sold shares of the company. WealthCollab LLC acquired a new position in Dave during the second quarter worth $30,000. National Bank of Canada FI purchased a new position in shares of Dave in the third quarter valued at $30,000. Nisa Investment Advisors LLC raised its stake in shares of Dave by 4,933.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company's stock worth $41,000 after buying an additional 148 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Dave in the 3rd quarter worth about $47,000. Finally, Team Financial Group LLC acquired a new stake in Dave in the 3rd quarter valued at about $54,000. 18.01% of the stock is owned by hedge funds and other institutional investors.
About Dave
(
Get Free Report)
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.
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