Dave (NASDAQ:DAVE) Price Target Raised to $300.00 at JMP Securities

Dave (NASDAQ:DAVE) had its target price upped by JMP Securities from $280.00 to $300.00 in a research note released on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the fintech company’s stock.

A number of other research analysts also recently issued reports on DAVE. Barrington Research restated an “outperform” rating and set a $290.00 price target on shares of Dave in a research note on Monday, August 18th. Piper Sandler restated a “neutral” rating on shares of Dave in a research note on Tuesday, June 10th. Wall Street Zen downgraded Dave from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. BMO Capital Markets restated an “outperform” rating on shares of Dave in a research note on Tuesday, June 10th. Finally, B. Riley raised their price target on Dave from $239.00 to $277.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dave presently has a consensus rating of “Moderate Buy” and an average target price of $270.43.

Dave Trading Down 2.3%

NASDAQ:DAVE opened at $218.10 on Friday. The stock’s 50 day moving average price is $211.25 and its 200 day moving average price is $174.87. The company has a market capitalization of $2.94 billion, a PE ratio of 57.70 and a beta of 3.93. The company has a quick ratio of 9.51, a current ratio of 9.51 and a debt-to-equity ratio of 0.35. Dave has a 52-week low of $37.44 and a 52-week high of $286.45.

Dave declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 13th that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the fintech company to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Dave

In other Dave news, Director Yadin Rozov sold 14,660 shares of Dave stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $199.54, for a total value of $2,925,256.40. Following the transaction, the director directly owned 79,923 shares in the company, valued at approximately $15,947,835.42. This trade represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Wilk sold 81,693 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $230.28, for a total value of $18,812,264.04. Following the completion of the sale, the chief executive officer directly owned 217,854 shares of the company’s stock, valued at $50,167,419.12. This represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 226,943 shares of company stock worth $50,301,987. 28.48% of the stock is currently owned by insiders.

Institutional Trading of Dave

A number of institutional investors have recently modified their holdings of DAVE. SBI Securities Co. Ltd. raised its holdings in Dave by 3.2% during the second quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock worth $524,000 after purchasing an additional 60 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Dave by 0.7% during the second 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 last quarter. State Board of Administration of Florida Retirement System raised its holdings in Dave by 3.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 2,931 shares of the fintech company’s stock worth $787,000 after purchasing an additional 91 shares during the last quarter. WealthCollab LLC acquired a new position in Dave during the second quarter worth $30,000. Finally, Nisa Investment Advisors LLC raised its holdings in Dave by 4,933.3% during the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after purchasing an additional 148 shares during the last quarter. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

About Dave

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.