Bosun Asset Management LLC Has $3.08 Million Stock Position in Dave Inc. $DAVE

Bosun Asset Management LLC lowered its position in Dave Inc. (NASDAQ:DAVE) by 37.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,480 shares of the fintech company’s stock after selling 6,796 shares during the quarter. Dave makes up approximately 0.9% of Bosun Asset Management LLC’s holdings, making the stock its 15th biggest position. Bosun Asset Management LLC owned about 0.09% of Dave worth $3,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Dave by 4,933.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock valued at $41,000 after buying an additional 148 shares in the last quarter. KBC Group NV bought a new stake in Dave in the second quarter worth approximately $85,000. Catalyst Capital Advisors LLC acquired a new position in shares of Dave during the 2nd quarter worth $141,000. Kingswood Wealth Advisors LLC bought a new position in shares of Dave during the 2nd quarter valued at $208,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Dave in the 2nd quarter valued at $213,000. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Price Performance

Shares of NASDAQ:DAVE opened at $207.01 on Friday. The business has a 50 day moving average price of $216.32 and a 200 day moving average price of $216.76. Dave Inc. has a twelve month low of $65.46 and a twelve month high of $286.45. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 20.52 and a beta of 3.90. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26.

Dave (NASDAQ:DAVE) last issued its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, topping the consensus estimate of $2.29 by $1.95. Dave had a return on equity of 65.86% and a net margin of 29.85%.The company had revenue of $150.73 million for the quarter, compared to the consensus estimate of $153.09 million. Research analysts predict that Dave Inc. will post 1.07 earnings per share for the current year.

Dave declared that its board has approved a stock repurchase plan on Wednesday, August 13th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the fintech company to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Dave news, CEO Jason Wilk sold 81,693 shares of the stock in a transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yadin Rozov sold 4,726 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $228.06, for a total transaction of $1,077,811.56. Following the transaction, the director owned 75,197 shares in the company, valued at approximately $17,149,427.82. The trade was a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 212,119 shares of company stock valued at $47,376,336. 28.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on DAVE. Lake Street Capital reissued a “buy” rating and set a $308.00 target price on shares of Dave in a research report on Wednesday, November 5th. Wall Street Zen raised Dave from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Canaccord Genuity Group boosted their target price on Dave from $229.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. set a $300.00 price target on Dave in a report on Friday, September 26th. Finally, JMP Securities set a $310.00 price target on shares of Dave in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.25.

Dave Company Profile

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.