Y Intercept Hong Kong Ltd Grows Stock Position in Dave Inc. $DAVE

Y Intercept Hong Kong Ltd raised its holdings in Dave Inc. (NASDAQ:DAVE) by 78.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,315 shares of the fintech company’s stock after acquiring an additional 4,101 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Dave were worth $1,857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DAVE. WealthCollab LLC acquired a new stake in shares of Dave in the second quarter worth approximately $30,000. Nisa Investment Advisors LLC raised its stake in Dave by 4,933.3% during the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after purchasing an additional 148 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Dave in the 3rd quarter valued at $47,000. Team Financial Group LLC acquired a new position in shares of Dave in the 3rd quarter valued at $54,000. Finally, KBC Group NV purchased a new stake in shares of Dave during the 2nd quarter valued at $85,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

Dave Stock Down 2.0%

Shares of NASDAQ:DAVE opened at $171.40 on Friday. The firm has a market cap of $2.31 billion, a PE ratio of 16.99 and a beta of 3.90. The company has a fifty day simple moving average of $206.84 and a 200 day simple moving average of $211.59. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. Dave Inc. has a 12-month low of $65.46 and a 12-month high of $286.45.

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

Insider Transactions at Dave

In related news, Director Imran Khan sold 33,270 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 2,110 shares of the company’s stock, valued at $420,607.40. The trade was a 94.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason Wilk sold 7,393 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total value of $1,506,471.61. Following the transaction, the chief executive officer directly owned 210,461 shares in the company, valued at approximately $42,885,637.97. This 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 over the last quarter. Insiders own 28.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DAVE shares. B. Riley reaffirmed a “buy” rating and issued a $297.00 target price (up from $277.00) on shares of Dave in a research report on Wednesday, November 5th. Citizens Jmp lifted their price objective on Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Zacks Research downgraded shares of Dave from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings lowered shares of Dave from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Citigroup reiterated an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.25.

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.