Insider Selling: Dave (NASDAQ:DAVE) Director Sells 18,835 Shares of Stock

by · The Markets Daily

Dave Inc. (NASDAQ:DAVE – Get Free Report) Director Imran Khan sold 18,835 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $196.94, for a total transaction of $3,709,364.90. Following the transaction, the director directly owned 18,735 shares of the company’s stock, valued at $3,689,670.90. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Imran Khan also recently made the following trade(s):

  • On Tuesday, December 16th, Imran Khan sold 10,577 shares of Dave stock. The stock was sold at an average price of $195.68, for a total value of $2,069,707.36.
  • On Monday, December 15th, Imran Khan sold 30,835 shares of Dave stock. The stock was sold at an average price of $192.17, for a total value of $5,925,561.95.

Dave Stock Performance

Shares of NASDAQ:DAVE traded down $1.98 during trading on Wednesday, hitting $196.95. The company’s stock had a trading volume of 365,859 shares, compared to its average volume of 494,783. The company has a 50-day moving average of $215.67 and a 200-day moving average of $216.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.69 and a quick ratio of 8.69. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 19.52 and a beta of 3.90. Dave Inc. has a 12 month low of $65.46 and a 12 month high of $286.45.

Dave (NASDAQ:DAVE – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $2.29 by $1.95. Dave had a net margin of 29.85% and a return on equity of 65.86%. The business had revenue of $150.73 million for the quarter, compared to the consensus estimate of $153.09 million. On average, sell-side analysts expect that Dave Inc. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup restated an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. Benchmark boosted their price target on Dave from $320.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a report on Friday, September 26th. Barrington Research reissued an “outperform” rating and set a $290.00 price objective on shares of Dave in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dave in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued 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 $304.25.

View Our Latest Research Report on DAVE

Hedge Funds Weigh In On Dave

A number of large investors have recently made changes to their positions in DAVE. WealthCollab LLC purchased a new stake in Dave in the 2nd quarter worth about $30,000. National Bank of Canada FI bought a new stake in shares of Dave during the third quarter worth $30,000. Nisa Investment Advisors LLC boosted its stake in shares of Dave by 4,933.3% during the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock valued at $41,000 after purchasing an additional 148 shares during the period. Exchange Traded Concepts LLC purchased a new position in Dave in the 3rd quarter worth about $47,000. Finally, Team Financial Group LLC purchased a new stake in Dave in the 3rd quarter valued at about $54,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Company Profile

(Get Free Report)

Dave, Inc is a digital banking service. Its products include a budgeting tool to help members manage their upcoming bills to avoid overspending, cash advances through its flagship ExtraCash product to help members avoid punitive overdraft fees, a Side Hustle product, where Dave helps connect members with supplemental work opportunities, and Dave Banking, a modern checking account experience with valuable tools for building long-term financial health.

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