GSA Capital Partners LLP Sells 4,605 Shares of Dave Inc. $DAVE

GSA Capital Partners LLP cut its holdings in Dave Inc. (NASDAQ:DAVE) by 33.7% during the third quarter, Holdings Channel reports. The institutional investor owned 9,061 shares of the fintech company’s stock after selling 4,605 shares during the quarter. GSA Capital Partners LLP’s holdings in Dave were worth $1,806,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DAVE. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Dave during the second quarter worth about $913,000. Silver Oak Wealth Advisors Services LLC purchased a new position in shares of Dave during the second quarter valued at approximately $501,000. Catalyst Capital Advisors LLC purchased a new position in shares of Dave during the second quarter valued at approximately $141,000. AlphaQuest LLC boosted its position in shares of Dave by 125.2% in the 2nd quarter. AlphaQuest LLC now owns 4,318 shares of the fintech company’s stock worth $1,159,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its stake in shares of Dave by 4.6% in the 2nd quarter. Leavell Investment Management Inc. now owns 4,510 shares of the fintech company’s stock worth $1,211,000 after buying an additional 200 shares during the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Price Performance

Shares of NASDAQ:DAVE opened at $176.61 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 17.50 and a beta of 3.89. The business has a 50-day simple moving average of $198.33 and a two-hundred day simple moving average of $207.97. Dave Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $286.45.

Insider Buying and Selling

In other news, CEO Jason Wilk sold 7,393 shares of the 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 transaction, the chief executive officer directly owned 210,461 shares of the company’s stock, valued at $42,885,637.97. This represents a 3.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Imran Khan sold 33,270 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was 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 in the company, valued at approximately $420,607.40. This trade represents a 94.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 105,164 shares of company stock worth $20,700,863. 28.48% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on DAVE shares. Canaccord Genuity Group lifted their price objective on Dave from $229.00 to $274.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Citigroup reiterated an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. Benchmark restated a “buy” rating on shares of Dave in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods assumed coverage on shares of Dave in a report on Monday, February 9th. They issued an “outperform” rating for the company. Finally, Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Dave in a report on Monday, November 3rd. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $303.43.

Dave Company 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.