Dave Inc. $DAVE Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC cut its position in Dave Inc. (NASDAQ:DAVE) by 4.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 24,187 shares of the fintech company’s stock after selling 1,255 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Dave were worth $4,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthCollab LLC acquired a new position in Dave in the 2nd quarter worth $30,000. National Bank of Canada FI acquired a new position in shares of Dave in the third quarter worth about $30,000. Blue Trust Inc. boosted its holdings in Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after purchasing an additional 79 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Dave during the 4th quarter valued at approximately $36,000. Finally, Harbour Investments Inc. purchased a new stake in Dave during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAVE. Barrington Research raised their price target on shares of Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, June 12th. Lake Street Capital reissued a “buy” rating and set a $332.00 price objective on shares of Dave in a report on Wednesday, May 6th. Keefe, Bruyette & Woods boosted their target price on shares of Dave from $340.00 to $485.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Citizens Jmp increased their price target on shares of Dave from $365.00 to $450.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 9th. Finally, Canaccord Genuity Group upped their price objective on Dave from $328.00 to $342.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $379.40.

Dave Stock Up 7.1%

DAVE stock opened at $399.15 on Tuesday. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 25.67 and a beta of 3.83. Dave Inc. has a 1-year low of $152.21 and a 1-year high of $458.25. The firm has a fifty day moving average price of $346.82 and a two-hundred day moving average price of $256.06. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.86 and a quick ratio of 3.86.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating the consensus estimate of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The business had revenue of $158.41 million during the quarter, compared to analyst estimates of $153.67 million. Research analysts predict that Dave Inc. will post 15.66 EPS for the current year.

Insider Transactions at Dave

In other news, CEO Jason Wilk sold 8,474 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the completion of the transaction, the chief executive officer directly owned 299,950 shares of the company’s stock, valued at approximately $82,501,247.50. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dan Preston sold 275 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total value of $68,103.75. Following the sale, the director owned 5,466 shares in the company, valued at $1,353,654.90. The trade was a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 23.59% of the company’s stock.

About Dave

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.