Dave (NASDAQ:DAVE) CEO Jason Wilk Sells 7,393 Shares of Stock

Dave Inc. (NASDAQ:DAVE) CEO Jason Wilk sold 7,393 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the transaction, the chief executive officer directly owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. This trade represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Jason Wilk also recently made the following trade(s):

• On Friday, September 19th, Jason Wilk sold 81,693 shares of Dave stock. The shares were 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 stock was 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 stock was sold at an average price of $230.01, for a total value of $678,069.48.
• On Thursday, September 4th, Jason Wilk sold 7,557 shares of Dave stock. The shares were sold at an average price of $199.40, for a total value of $1,506,865.80.

Dave Price Performance

DAVE 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. Dave Inc. has a 12-month low of $65.46 and a 12-month high of $286.45. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 20.20 and a beta of 3.90. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $150.73 million for the quarter, compared to analyst estimates of $153.09 million. As a group, sell-side analysts expect that Dave Inc. will post 1.07 earnings per share for the current year.

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

Institutional Trading of Dave

Several institutional investors have recently modified their holdings of DAVE. SBI Securities Co. Ltd. boosted its holdings in shares of Dave by 3.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock valued at $524,000 after buying an additional 60 shares in the last quarter. Brevan Howard Capital Management LP boosted its stake in Dave by 1.6% in the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock valued at $767,000 after acquiring an additional 62 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after acquiring an additional 65 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Dave by 3.3% during the third quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company’s stock worth $556,000 after purchasing an additional 88 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Dave by 3.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 2,931 shares of the fintech company’s stock worth $787,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Lake Street Capital restated a “buy” rating and issued a $308.00 price target on shares of Dave in a research note on Wednesday, November 5th. JMP Securities set a $310.00 target price on Dave in a report on Wednesday, November 5th. Benchmark upped their price target on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Citigroup reiterated an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. Finally, Barrington Research restated an “outperform” rating and set a $290.00 target price on shares of Dave in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.