Dave (NASDAQ:DAVE) Stock Price Down 6% – Should You Sell?

Dave Inc. (NASDAQ:DAVE) fell 6% during trading on Tuesday . The company traded as low as $170.50 and last traded at $173.0440. 431,006 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 516,847 shares. The stock had previously closed at $184.06.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DAVE. Wall Street Zen cut shares of Dave from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Canaccord Genuity Group raised their target price on shares of Dave from $229.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Zacks Research cut Dave from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings upgraded Dave from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, JMP Securities set a $310.00 target price on Dave in a research report on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $304.25.

Dave Trading Down 3.6%

The business has a fifty day simple moving average of $207.62 and a 200-day simple moving average of $212.31. 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 $2.40 billion, a price-to-earnings ratio of 17.59 and a beta of 3.90.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $1.95. The company had revenue of $150.73 million for 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%. As a group, equities analysts forecast that Dave Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jason Wilk sold 7,393 shares of the firm’s stock in a transaction dated 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 directly owned 210,461 shares in the company, valued at $42,885,637.97. This trade represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Imran Khan sold 1,146 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $204.00, for a total value of $233,784.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 105,164 shares of company stock valued at $20,700,863. Insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Dave

A number of hedge funds have recently bought and sold shares of DAVE. Comprehensive Financial Planning Inc. PA bought a new stake in Dave during the 2nd quarter worth approximately $359,000. Quadrature Capital Ltd boosted its position in shares of Dave by 120.3% during the second quarter. Quadrature Capital Ltd now owns 9,751 shares of the fintech company’s stock valued at $2,615,000 after buying an additional 5,325 shares during the last quarter. Silver Oak Wealth Advisors Services LLC bought a new stake in Dave during the second quarter worth $501,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Dave in the 2nd quarter valued at $913,000. Finally, Sigma Planning Corp bought a new position in Dave during the 2nd quarter valued at $425,000. Institutional investors own 18.01% of the company’s stock.

About Dave

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.