Azora Capital LP Takes $19.04 Million Position in Dave Inc. $DAVE

Azora Capital LP bought a new position in Dave Inc. (NASDAQ:DAVE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 70,924 shares of the fintech company’s stock, valued at approximately $19,037,000. Azora Capital LP owned about 0.53% of Dave as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Comprehensive Financial Planning Inc. PA purchased a new stake in Dave during the 2nd quarter worth $359,000. Quadrature Capital Ltd raised its position in Dave by 120.3% in the second quarter. Quadrature Capital Ltd now owns 9,751 shares of the fintech company’s stock valued at $2,615,000 after purchasing an additional 5,325 shares during the period. Silver Oak Wealth Advisors Services LLC acquired a new position in shares of Dave during the second quarter worth about $501,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Dave during the second quarter worth about $913,000. Finally, Sigma Planning Corp purchased a new stake in shares of Dave in the second quarter worth about $425,000. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dave

In related news, Director Yadin Rozov sold 4,726 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $228.06, for a total value of $1,077,811.56. Following the sale, the director owned 75,197 shares of the company’s stock, valued at approximately $17,149,427.82. This trade represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Imran Khan sold 39,534 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $223.13, for a total value of $8,821,221.42. Following the transaction, the director owned 79,110 shares of the company’s stock, valued at $17,651,814.30. This represents a 33.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 212,119 shares of company stock worth $47,376,336 over the last ninety days. Company insiders own 28.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DAVE shares. JMP Securities set a $310.00 target price on Dave in a report on Wednesday, November 5th. Lake Street Capital reiterated a “buy” rating and set a $308.00 price objective on shares of Dave in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dave in a research report on Monday. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Dave in a report on Monday, November 3rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Dave in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.25.

Dave Stock Performance

Dave stock opened at $194.69 on Wednesday. The company has a market cap of $2.63 billion, a PE ratio of 19.30 and a beta of 3.90. The company has a fifty day moving average price of $216.06 and a two-hundred day moving average price of $216.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.69 and a quick ratio of 8.69. Dave Inc. has a 12 month low of $65.46 and a 12 month high of $286.45.

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

Dave announced that its board has initiated a share 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.