4,302 Shares in Dave Inc. $DAVE Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky acquired a new stake in Dave Inc. (NASDAQ:DAVE) during the third quarter, according to its most recent filing with the SEC. The firm acquired 4,302 shares of the fintech company’s stock, valued at approximately $858,000.

Several other institutional investors also recently bought and sold shares of DAVE. Vanguard Group Inc. raised its position in Dave by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 655,293 shares of the fintech company’s stock worth $130,633,000 after buying an additional 59,774 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Dave by 17.1% in the third quarter. American Century Companies Inc. now owns 229,693 shares of the fintech company’s stock valued at $45,790,000 after acquiring an additional 33,492 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dave by 14.6% in the second quarter. Geode Capital Management LLC now owns 207,773 shares of the fintech company’s stock valued at $55,774,000 after acquiring an additional 26,515 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Dave by 5,603.0% during the third quarter. Voya Investment Management LLC now owns 144,285 shares of the fintech company’s stock worth $28,763,000 after acquiring an additional 141,755 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Dave by 2,379.9% during the second quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock worth $26,166,000 after acquiring an additional 93,554 shares during the period. 18.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dave

In other Dave news, Director Imran Khan sold 33,270 shares of the stock in a transaction dated 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 directly owned 2,110 shares of the company’s stock, valued at approximately $420,607.40. This trade represents a 94.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 97,771 shares of company stock valued at $19,194,391 over the last three months. Company insiders own 28.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. B. Riley Financial raised their price objective on shares of Dave from $297.00 to $303.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Research upgraded Dave from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Wall Street Zen downgraded Dave from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods raised their price target on Dave from $250.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Benchmark restated a “buy” rating on shares of Dave in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Dave currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.13.

Key Stories Impacting Dave

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Company priced a $175M 0% convertible senior notes offering and will use net proceeds to repurchase about 334,000 shares (~$70.5M) and to fund capped calls that limit dilution — this is supportive of near-term EPS/price support. Convertible Notes & Repurchase Release
• Positive Sentiment: Multiple brokerages raised price targets and issued upgrades in recent days (including Keefe, Lake Street, B. Riley, Canaccord), and third‑party coverage shows a consensus “Moderate Buy” — analysts expect upside versus current levels. Analyst Coverage Summary
• Positive Sentiment: Company reiterated/expanded share repurchase activity (public reports of a broader buyback program), signaling management intent to support the stock. Buyback Announcement
• Neutral Sentiment: Management entered capped call transactions that raise the effective conversion premium to 100% — these reduce dilution risk on conversion but include a high cap price (limits upside benefit to holders). Capped Call Details
• Negative Sentiment: The convertible notes increase the company’s debt obligations (0% coupons but senior unsecured debt) and create potential future dilution if conversion occurs; some investors view financing via convertibles and buybacks as a trade-off vs. investing in growth. Convertible Offering Analysis
• Negative Sentiment: Material insider selling has been reported (numerous open-market sales and no insider purchases in the period cited), which can worry investors about insiders’ sentiment on near-term upside. Insider Activity Details
• Neutral Sentiment: Short-interest reports in the feed show no meaningful, reliable short data (entries list zeros/NaN), so short-squeeze risk appears minimal based on available figures but treat these data as noisy.

Dave Stock Down 0.4%

Shares of NASDAQ DAVE opened at $217.33 on Friday. Dave Inc. has a 52 week low of $65.46 and a 52 week high of $286.45. The firm has a 50-day moving average price of $193.29 and a 200 day moving average price of $206.82. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 16.10 and a beta of 3.86.

Dave announced that its board has authorized a share repurchase program on Monday, March 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the fintech company to buy up to 11.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.