Dave (NASDAQ:DAVE) Trading Down 8.1% – Time to Sell?

Dave Inc. (NASDAQ:DAVE) shares traded down 8.1% on Monday . The company traded as low as $223.00 and last traded at $220.0140. 129,783 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 281,337 shares. The stock had previously closed at $239.35.

Wall Street Analyst Weigh In

Several research firms have recently commented on DAVE. Wall Street Zen upgraded Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Canaccord Genuity Group lifted their target price on Dave from $229.00 to $274.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. B. Riley reiterated 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. Zacks Research raised shares of Dave from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Dave in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Dave currently has a consensus rating of “Moderate Buy” and an average price target of $304.25.

Dave Stock Down 10.0%

The business’s fifty day moving average is $215.66 and its two-hundred day moving average is $217.61. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 21.36 and a beta of 3.90. 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 released its 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. Equities analysts forecast that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other Dave news, Director Imran Khan sold 1,146 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $204.00, for a total value of $233,784.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason Wilk sold 7,393 shares of Dave stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total value of $1,506,471.61. Following the sale, the chief executive officer directly owned 210,461 shares of the company’s stock, valued at $42,885,637.97. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 105,164 shares of company stock worth $20,700,863. 28.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dave

Several institutional investors have recently added to or reduced their stakes in DAVE. WealthCollab LLC acquired a new position in shares of Dave in the 2nd quarter valued at $30,000. National Bank of Canada FI acquired a new stake in shares of Dave during the third quarter worth about $30,000. Nisa Investment Advisors LLC lifted its holdings in shares of 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 purchasing an additional 148 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Dave in the 3rd quarter valued at about $47,000. Finally, Team Financial Group LLC purchased a new position in Dave during the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Company Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.