Dave (NASDAQ:DAVE) Shares Down 7.6% – Here’s What Happened

Dave Inc. (NASDAQ:DAVE)’s share price traded down 7.6% on Wednesday . The stock traded as low as $245.00 and last traded at $246.46. 159,230 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 577,375 shares. The stock had previously closed at $266.83.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group assumed coverage on Dave in a report on Tuesday, May 26th. They issued a “buy” rating and a $300.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on Dave from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Evercore assumed coverage on Dave in a report on Wednesday, May 27th. They issued a “hold” rating and a $260.00 target price on the stock. B. Riley Financial upped their target price on Dave from $358.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Citigroup reissued an “outperform” rating on shares of Dave in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Dave presently has an average rating of “Moderate Buy” and an average price target of $323.40.

Dave Trading Up 5.0%

The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 16.83 and a beta of 3.87. The business has a 50 day moving average of $232.43 and a 200 day moving average of $211.39.

Dave (NASDAQ:DAVE) last posted its quarterly earnings data on Tuesday, May 5th. The fintech company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.78. The business had revenue of $158.41 million for the quarter, compared to analyst estimates of $153.67 million. Dave had a return on equity of 77.70% and a net margin of 37.22%.Dave has set its FY 2026 guidance at 16.250-16.750 EPS. On average, research analysts forecast that Dave Inc. will post 14.7 earnings per share for the current fiscal year.

Dave announced that its board has approved a share repurchase plan on Monday, March 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the fintech company to buy up to 11.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Dave

In related news, CEO Jason Wilk sold 8,474 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the sale, the chief executive officer owned 299,950 shares of the company’s stock, valued at $82,501,247.50. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.48% of the stock is currently owned by insiders.

Institutional Trading of Dave

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in shares of Dave by 22.7% during the third quarter. Principal Financial Group Inc. now owns 67,792 shares of the fintech company’s stock valued at $13,514,000 after acquiring an additional 12,555 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Dave by 2,267.1% during the fourth quarter. SG Americas Securities LLC now owns 88,552 shares of the fintech company’s stock valued at $19,606,000 after acquiring an additional 84,811 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Dave during the third quarter valued at $1,826,000. Pictet Asset Management Holding SA boosted its stake in Dave by 372.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,841 shares of the fintech company’s stock worth $1,293,000 after buying an additional 4,604 shares during the last quarter. Finally, Wilson Asset Management International PTY Ltd. acquired a new stake in Dave in the 3rd quarter worth about $1,561,000. Institutional investors and hedge funds own 18.01% of the company’s stock.

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.