4,302 Shares in Dave Inc. $DAVE Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new stake in Dave Inc. (NASDAQ:DAVE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,302 shares of the fintech company’s stock, valued at approximately $858,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WealthCollab LLC purchased a new stake in Dave during the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC increased 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 acquiring an additional 148 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Dave during the 3rd quarter worth about $47,000. Team Financial Group LLC acquired a new stake in shares of Dave during the 3rd quarter worth about $54,000. Finally, KBC Group NV purchased a new stake in Dave during the second quarter worth approximately $85,000. 18.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DAVE shares. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Dave from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday. Weiss Ratings cut shares of Dave from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 26th. Lake Street Capital increased their target price on shares of Dave from $308.00 to $326.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price target on shares of Dave from $274.00 to $328.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.13.

Dave Price Performance

Shares of Dave stock opened at $217.33 on Friday. The firm’s fifty day simple moving average is $193.29 and its 200-day simple moving average is $206.82. Dave Inc. has a 12 month low of $65.46 and a 12 month high of $286.45. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 16.10 and a beta of 3.86.

Dave declared that its board has initiated a share buyback plan on Monday, March 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the fintech company to reacquire up to 11.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Dave News Summary

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Company priced a $175M 0% convertible senior notes offering and will use net proceeds to repurchase about 334,000 shares (~$70.5M) and to fund capped calls that limit dilution — this is supportive of near-term EPS/price support. Convertible Notes & Repurchase Release
• Positive Sentiment: Multiple brokerages raised price targets and issued upgrades in recent days (including Keefe, Lake Street, B. Riley, Canaccord), and third‑party coverage shows a consensus “Moderate Buy” — analysts expect upside versus current levels. Analyst Coverage Summary
• Positive Sentiment: Company reiterated/expanded share repurchase activity (public reports of a broader buyback program), signaling management intent to support the stock. Buyback Announcement
• Neutral Sentiment: Management entered capped call transactions that raise the effective conversion premium to 100% — these reduce dilution risk on conversion but include a high cap price (limits upside benefit to holders). Capped Call Details
• Negative Sentiment: The convertible notes increase the company’s debt obligations (0% coupons but senior unsecured debt) and create potential future dilution if conversion occurs; some investors view financing via convertibles and buybacks as a trade-off vs. investing in growth. Convertible Offering Analysis
• Negative Sentiment: Material insider selling has been reported (numerous open-market sales and no insider purchases in the period cited), which can worry investors about insiders’ sentiment on near-term upside. Insider Activity Details
• Neutral Sentiment: Short-interest reports in the feed show no meaningful, reliable short data (entries list zeros/NaN), so short-squeeze risk appears minimal based on available figures but treat these data as noisy.

Insider Buying and Selling at Dave

In related news, Director Imran Khan sold 1,146 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $204.00, for a total transaction of $233,784.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 97,771 shares of company stock worth $19,194,391 in the last three months. 28.48% of the stock is currently owned by corporate insiders.

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.