Dave (NASDAQ:DAVE) Given “Outperform” Rating at Barrington Research

Dave (NASDAQ:DAVE)‘s stock had its “outperform” rating reissued by stock analysts at Barrington Research in a note issued to investors on Monday,Benzinga reports. They presently have a $290.00 target price on the fintech company’s stock. Barrington Research’s target price indicates a potential upside of 21.18% from the company’s current price.

DAVE has been the subject of a number of other reports. Benchmark restated a “buy” rating and issued a $320.00 price objective on shares of Dave in a report on Wednesday, October 1st. JPMorgan Chase & Co. set a $300.00 price objective on shares of Dave in a research report on Friday, September 26th. Canaccord Genuity Group upped their target price on shares of Dave from $179.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Citigroup reaffirmed an “outperform” rating on shares of Dave in a research report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Dave from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $274.13.

Dave Stock Performance

NASDAQ DAVE opened at $239.32 on Monday. Dave has a 52-week low of $37.44 and a 52-week high of $286.45. The company has a 50-day simple moving average of $217.13 and a 200 day simple moving average of $201.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 9.51 and a current ratio of 9.51. The company has a market capitalization of $3.23 billion, a PE ratio of 63.31 and a beta of 3.89.

Dave announced that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Dave

In other Dave news, CEO Jason Wilk sold 81,693 shares of Dave stock in a transaction on Friday, September 19th. The shares were sold at an average price of $230.28, for a total transaction of $18,812,264.04. Following the completion of the transaction, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at $50,167,419.12. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yadin Rozov sold 14,660 shares of Dave stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $199.54, for a total value of $2,925,256.40. Following the sale, the director owned 79,923 shares of the company’s stock, valued at approximately $15,947,835.42. This trade represents a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 226,943 shares of company stock valued at $50,301,987. 28.48% of the stock is owned by corporate insiders.

Institutional Trading of Dave

Institutional investors and hedge funds have recently made changes to their positions in the company. WealthCollab LLC bought a new stake in shares of Dave in the second quarter valued at about $30,000. Nisa Investment Advisors LLC grew its stake in shares of Dave by 4,933.3% during the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after acquiring an additional 148 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Dave during the third quarter worth about $47,000. Team Financial Group LLC purchased a new stake in Dave in the third quarter valued at approximately $54,000. Finally, KBC Group NV purchased a new stake in Dave in the second quarter valued at approximately $85,000. 18.01% of the stock is currently owned by institutional investors.

Dave Company 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.