Harbor Capital Advisors Inc. Buys Shares of 2,530 Dave Inc. $DAVE

Harbor Capital Advisors Inc. bought a new position in Dave Inc. (NASDAQ:DAVE) in the third quarter, Holdings Channel reports. The institutional investor bought 2,530 shares of the fintech company’s stock, valued at approximately $504,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WealthCollab LLC purchased 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% in the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock valued at $41,000 after buying an additional 148 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Dave in the 3rd quarter valued at approximately $47,000. Team Financial Group LLC acquired a new stake in shares of Dave during the 3rd quarter worth approximately $54,000. Finally, KBC Group NV purchased a new stake in shares of Dave during the 2nd quarter valued at approximately $85,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

Dave Trading Up 0.2%

Shares of NASDAQ DAVE opened at $229.22 on Monday. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $3.09 billion, a PE ratio of 22.72 and a beta of 3.90. Dave Inc. has a twelve month low of $65.46 and a twelve month high of $286.45. The stock has a fifty day simple moving average of $217.24 and a 200-day simple moving average of $216.66.

Dave (NASDAQ:DAVE) last announced its earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $1.95. The company had revenue of $150.73 million during the quarter, compared to analysts’ expectations of $153.09 million. Dave had a return on equity of 65.86% and a net margin of 29.85%. On average, equities analysts forecast that Dave Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In other Dave news, Director Imran Khan sold 33,270 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $199.34, for a total value of $6,632,041.80. Following the completion of the transaction, the director owned 2,110 shares of the company’s stock, valued at $420,607.40. This trade represents a 94.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jason Wilk sold 7,393 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the completion of the transaction, the chief executive officer owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. This trade represents a 3.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 105,164 shares of company stock valued at $20,700,863 in the last 90 days. Company insiders own 28.48% of the company’s stock.

Wall Street Analyst Weigh In

DAVE has been the subject of several analyst reports. Barrington Research reiterated an “outperform” rating and issued a $290.00 price objective on shares of Dave in a research report on Monday, November 3rd. Benchmark increased their price target on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Citizens Jmp raised their price objective on Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Dave from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group increased their target price on shares of Dave from $229.00 to $274.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.25.

Dave 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.