GSA Capital Partners LLP Cuts Holdings in Dave Inc. $DAVE

GSA Capital Partners LLP trimmed its position in Dave Inc. (NASDAQ:DAVE) by 33.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,061 shares of the fintech company’s stock after selling 4,605 shares during the period. GSA Capital Partners LLP owned about 0.07% of Dave worth $1,806,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DAVE. WealthCollab LLC purchased a new position in shares of Dave in the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC raised its position in Dave by 4,933.3% in the second quarter. Nisa Investment Advisors LLC now owns 151 shares of the fintech company’s stock worth $41,000 after acquiring an additional 148 shares during the period. Exchange Traded Concepts LLC purchased a new position in Dave in the third quarter valued at about $47,000. Team Financial Group LLC bought a new position in shares of Dave during the 3rd quarter valued at approximately $54,000. Finally, KBC Group NV purchased a new stake in shares of Dave during the 2nd quarter worth approximately $85,000. 18.01% of the stock is currently owned by institutional investors.

Dave Stock Performance

Shares of NASDAQ:DAVE opened at $176.61 on Wednesday. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $198.33 and a 200-day moving average price of $207.97. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 17.50 and a beta of 3.89. Dave Inc. has a 12 month low of $65.46 and a 12 month high of $286.45.

Insider Buying and Selling

In related news, Director Imran Khan sold 33,270 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $199.34, for a total transaction of $6,632,041.80. Following the transaction, the director owned 2,110 shares in the company, valued at $420,607.40. The trade was a 94.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason Wilk sold 7,393 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the completion of the transaction, the chief executive officer directly owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. The trade was a 3.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 105,164 shares of company stock valued at $20,700,863. 28.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DAVE shares. Barrington Research reiterated an “outperform” rating and issued a $290.00 price objective on shares of Dave in a research note on Monday, November 3rd. Wall Street Zen raised Dave from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. B. Riley Financial reaffirmed a “buy” rating and issued a $297.00 price target (up previously from $277.00) on shares of Dave in a report on Wednesday, November 5th. Canaccord Genuity Group lifted their price objective on shares of Dave from $229.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Dave in a research report on Wednesday, December 24th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $303.43.

Dave Profile

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.