Dave Inc. $DAVE Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lessened its position in Dave Inc. (NASDAQ:DAVE) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,187 shares of the fintech company’s stock after selling 1,255 shares during the period. Segall Bryant & Hamill LLC owned about 0.19% of Dave worth $4,211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brevan Howard Capital Management LP grew its stake in Dave by 1.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock worth $767,000 after acquiring an additional 62 shares during the period. JPMorgan Chase & Co. lifted its stake 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 worth $2,412,000 after purchasing an additional 65 shares during the period. Blue Trust Inc. lifted its stake in shares of Dave by 106.8% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock worth $34,000 after purchasing an additional 79 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Dave by 2.6% during the fourth quarter. Citizens Financial Group Inc. RI now owns 3,908 shares of the fintech company’s stock worth $865,000 after purchasing an additional 100 shares during the last quarter. Finally, Worth Venture Partners LLC grew its position in shares of Dave by 9.4% in the third quarter. Worth Venture Partners LLC now owns 1,258 shares of the fintech company’s stock valued at $251,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Stock Up 7.1%

Shares of NASDAQ:DAVE opened at $399.15 on Tuesday. The stock has a 50-day simple moving average of $346.82 and a 200-day simple moving average of $256.06. The stock has a market capitalization of $5.07 billion, a P/E ratio of 25.67 and a beta of 3.83. Dave Inc. has a 1 year low of $152.21 and a 1 year high of $458.25. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.86 and a current ratio of 3.86.

Dave (NASDAQ:DAVE) last announced its quarterly earnings results on Tuesday, May 5th. The fintech company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.78. Dave had a net margin of 37.22% and a return on equity of 77.70%. The firm had revenue of $158.41 million for the quarter, compared to analysts’ expectations of $153.67 million. Equities analysts forecast that Dave Inc. will post 15.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jason Wilk sold 8,474 shares of Dave stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $275.05, for a total transaction of $2,330,773.70. Following the transaction, the chief executive officer owned 299,950 shares in the company, valued at approximately $82,501,247.50. The trade was a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dan Preston sold 275 shares of the company’s stock in a transaction 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 sale, the director directly owned 5,466 shares of the company’s stock, valued at approximately $1,353,654.90. This trade represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 23.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citizens Jmp increased their target price on Dave from $365.00 to $450.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 9th. Benchmark increased their price objective on shares of Dave from $345.00 to $475.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their target price on shares of Dave from $340.00 to $485.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. UBS Group upped their price target on shares of Dave from $300.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Evercore assumed coverage on shares of Dave in a research note on Wednesday, May 27th. They set a “hold” rating and a $260.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.40.

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.