Lisanti Capital Growth LLC Buys New Stake in Dave Inc. $DAVE

Lisanti Capital Growth LLC purchased a new position in shares of Dave Inc. (NASDAQ:DAVE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,565 shares of the fintech company’s stock, valued at approximately $4,983,000. Dave accounts for about 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 27th biggest position. Lisanti Capital Growth LLC owned about 0.14% of Dave as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Great Lakes Advisors LLC acquired a new stake in Dave in the first quarter worth about $3,487,000. Penserra Capital Management LLC acquired a new position in shares of Dave during the second quarter valued at approximately $3,221,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Dave during the second quarter valued at approximately $2,870,000. Bank of New York Mellon Corp raised its holdings in Dave by 29.1% during the second quarter. Bank of New York Mellon Corp now owns 34,992 shares of the fintech company’s stock worth $9,392,000 after purchasing an additional 7,893 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Dave in the second quarter worth approximately $1,434,000. Institutional investors own 18.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Dave in a research note on Monday, November 3rd. Benchmark lifted their price objective on shares of Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday. JMP Securities set a $310.00 target price on shares of Dave in a report on Wednesday. Canaccord Genuity Group upped their price target on Dave from $229.00 to $274.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. set a $300.00 price objective on Dave in a research note on Friday, September 26th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.25.

Insider Buying and Selling

In related news, Director Yadin Rozov sold 4,726 shares of Dave stock in a transaction on Friday, September 12th. The stock was sold at an average price of $228.06, for a total transaction of $1,077,811.56. Following the completion of the sale, the director owned 75,197 shares of the company’s stock, valued at approximately $17,149,427.82. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Imran Khan sold 8,535 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $217.70, for a total value of $1,858,069.50. Following the completion of the transaction, the director directly owned 48,885 shares in the company, valued at approximately $10,642,264.50. The trade was a 14.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 226,943 shares of company stock worth $50,301,987. 28.48% of the stock is owned by company insiders.

Dave Stock Up 5.3%

Shares of NASDAQ:DAVE opened at $235.45 on Friday. Dave Inc. has a 52 week low of $45.61 and a 52 week high of $286.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 9.51 and a current ratio of 8.69. The company has a market cap of $3.18 billion, a PE ratio of 23.33 and a beta of 3.89. The firm has a 50 day simple moving average of $219.77 and a 200 day simple moving average of $206.08.

Dave (NASDAQ:DAVE) last issued its earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, topping the consensus estimate of $2.29 by $1.95. The business had revenue of $139.30 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%. Dave has set its FY 2025 guidance at EPS. As a group, research analysts expect that Dave Inc. will post 1.07 earnings per share for the current year.

Dave declared that its board has authorized a stock buyback plan on Wednesday, August 13th that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the fintech company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Dave Profile

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.