VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.39 Million in Dave Inc. $DAVE

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Dave Inc. (NASDAQ:DAVE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,100 shares of the fintech company’s stock, valued at approximately $3,391,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of Dave at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Dave by 92.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,273 shares of the fintech company’s stock valued at $1,440,000 after acquiring an additional 3,971 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Dave in the first quarter valued at approximately $1,835,000. Estuary Capital Management LP acquired a new position in Dave in the first quarter valued at approximately $20,556,000. Inspire Investing LLC purchased a new position in Dave in the first quarter valued at approximately $1,371,000. Finally, Royal Bank of Canada increased its stake in Dave by 182.8% in the first quarter. Royal Bank of Canada now owns 10,590 shares of the fintech company’s stock valued at $1,844,000 after purchasing an additional 6,845 shares during the last quarter. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Dave Price Performance

Shares of DAVE opened at $361.88 on Thursday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $378.99 and its two-hundred day moving average is $289.99. Dave Inc. has a twelve month low of $152.21 and a twelve month high of $458.25. The firm has a market capitalization of $4.62 billion, a PE ratio of 23.47 and a beta of 3.83.

Dave (NASDAQ:DAVE) last issued its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($2.95). The business had revenue of $170.79 million for the quarter, compared to analysts’ expectations of $171.11 million. Dave had a return on equity of 77.46% and a net margin of 34.58%.Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Research analysts anticipate that Dave Inc. will post 13.71 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler started coverage on shares of Dave in a research report on Monday, August 17th. They set an “overweight” rating and a $390.00 price objective for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $450.00 target price on shares of Dave in a research report on Thursday, August 6th. Canaccord Genuity Group lifted their target price on Dave from $342.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Evercore started coverage on shares of Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 target price on the stock. Finally, Zacks Research downgraded shares of Dave from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $418.25.

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.