Geode Capital Management LLC Acquires 75,576 Shares of Dave Inc. $DAVE

Geode Capital Management LLC increased its holdings in shares of Dave Inc. (NASDAQ:DAVE) by 31.1% during the 4th quarter, HoldingsChannel reports. The firm owned 318,295 shares of the fintech company’s stock after purchasing an additional 75,576 shares during the period. Geode Capital Management LLC’s holdings in Dave were worth $70,483,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DAVE. JPMorgan Chase & Co. lifted its holdings in shares of Dave by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock valued at $2,412,000 after purchasing an additional 65 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Dave during the 2nd quarter valued at about $324,000. Invesco Ltd. lifted its holdings in shares of Dave by 2,379.9% during the 2nd quarter. Invesco Ltd. now owns 97,485 shares of the fintech company’s stock valued at $26,166,000 after purchasing an additional 93,554 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Dave during the 2nd quarter valued at about $18,710,000. Finally, Cresset Asset Management LLC bought a new position in shares of Dave during the 2nd quarter valued at about $402,000. Institutional investors own 18.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DAVE shares. Keefe, Bruyette & Woods lifted their price objective on Dave from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Citigroup restated an “outperform” rating on shares of Dave in a research note on Wednesday, May 6th. Zacks Research upgraded Dave from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Lake Street Capital restated a “buy” rating and issued a $332.00 target price on shares of Dave in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group boosted their target price on Dave from $328.00 to $342.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.40.

Insider Activity at Dave

In other Dave news, Director Dan Preston sold 275 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $247.65, for a total transaction of $68,103.75. Following the transaction, the director owned 5,466 shares of the company’s stock, valued at $1,353,654.90. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason Wilk sold 8,474 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $275.05, for a total value of $2,330,773.70. Following the transaction, the chief executive officer directly owned 299,950 shares in the company, valued at $82,501,247.50. This trade represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 28.48% of the stock is owned by insiders.

Dave Stock Up 4.7%

NASDAQ:DAVE opened at $270.29 on Tuesday. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 17.38 and a beta of 3.87. Dave Inc. has a twelve month low of $152.21 and a twelve month high of $293.90. The stock’s 50 day moving average price is $235.79 and its two-hundred day moving average price is $212.41. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.95.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.78. The firm 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. Equities research analysts expect that Dave Inc. will post 14.7 earnings per share for the current fiscal year.

Dave declared that its board has authorized a stock buyback program on Monday, March 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the fintech company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are 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.