Michael W. Pope Sells 15,000 Shares of Dave Inc. (NASDAQ:DAVE) Stock

Dave Inc. (NASDAQ:DAVEGet Free Report) Director Michael W. Pope sold 15,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $215.82, for a total transaction of $3,237,300.00. Following the sale, the director now directly owns 8,168 shares of the company’s stock, valued at $1,762,817.76. This represents a 64.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dave Stock Down 1.7%

Dave stock opened at $200.88 on Thursday. The company has a market cap of $2.68 billion, a P/E ratio of 55.34 and a beta of 3.93. Dave Inc. has a 1-year low of $28.31 and a 1-year high of $243.25. The company has a fifty day simple moving average of $156.79 and a 200 day simple moving average of $114.43. The company has a current ratio of 8.59, a quick ratio of 8.59 and a debt-to-equity ratio of 0.38.

Dave (NASDAQ:DAVEGet Free Report) last announced its quarterly earnings data on Thursday, May 8th. The fintech company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $1.15. Dave had a net margin of 13.75% and a return on equity of 34.85%. Research analysts anticipate that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Dave declared that its Board of Directors has approved a share repurchase plan on Monday, March 10th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the fintech company to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dave stock. Great Lakes Advisors LLC acquired a new stake in Dave Inc. (NASDAQ:DAVEFree Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 42,179 shares of the fintech company’s stock, valued at approximately $3,487,000. Great Lakes Advisors LLC owned 0.33% of Dave at the end of the most recent reporting period. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating on shares of Dave in a research report on Tuesday, June 10th. Canaccord Genuity Group increased their price objective on shares of Dave from $130.00 to $179.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Benchmark downgraded shares of Dave from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 10th. JMP Securities increased their price objective on shares of Dave from $125.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Finally, B. Riley raised their target price on shares of Dave from $206.00 to $239.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.33.

Get Our Latest Stock Analysis on Dave

Dave Company Profile

(Get Free Report)

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.

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