Dave Inc. (NASDAQ:DAVE) Short Interest Up 26.7% in December

Dave Inc. (NASDAQ:DAVE) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 1,104,579 shares, a growth of 26.7% from the December 15th total of 871,992 shares. Based on an average daily trading volume, of 382,743 shares, the days-to-cover ratio is presently 2.9 days. Approximately 11.4% of the shares of the company are short sold. Approximately 11.4% of the shares of the company are short sold. Based on an average daily trading volume, of 382,743 shares, the days-to-cover ratio is presently 2.9 days.

Insider Buying and Selling

In other Dave news, Director Imran Khan sold 33,270 shares of Dave stock in a transaction that occurred on 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 completion of the sale, the director directly owned 2,110 shares in the company, valued at approximately $420,607.40. The trade was a 94.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jason Wilk sold 7,393 shares of the stock in a transaction on 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 sale, the chief executive officer owned 210,461 shares in the company, valued at $42,885,637.97. The trade was a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 105,164 shares of company stock valued at $20,700,863 over the last three months. 28.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAVE. WealthCollab LLC purchased a new position in shares of Dave in the second quarter valued at approximately $30,000. National Bank of Canada FI purchased a new position in Dave in the 3rd quarter valued at $30,000. Blue Trust Inc. lifted its holdings in Dave by 106.8% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after purchasing an additional 79 shares in the last quarter. Nisa Investment Advisors LLC boosted its position 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 acquiring an additional 148 shares during the last quarter. Finally, Westend Capital Management LLC boosted its holdings in shares of Dave by 100.0% during the 4th quarter. Westend Capital Management LLC now owns 200 shares of the fintech company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. 18.01% of the stock is owned by hedge funds and other institutional investors.

Dave Price Performance

Shares of NASDAQ:DAVE traded up $1.95 during midday trading on Monday, reaching $194.01. 659,377 shares of the company’s stock traded hands, compared to its average volume of 416,124. Dave has a 1 year low of $65.46 and a 1 year high of $286.45. The company has a market cap of $2.62 billion, a P/E ratio of 19.23 and a beta of 3.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69. The company has a fifty day simple moving average of $212.09 and a two-hundred day simple moving average of $215.55.

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. The company had revenue of $150.73 million during the quarter, compared to analyst estimates of $153.09 million. Dave had a net margin of 29.85% and a return on equity of 65.86%. Equities analysts predict that Dave will post 1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DAVE has been the subject of several analyst reports. Zacks Research raised Dave from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Citizens Jmp lifted their price target on Dave from $300.00 to $310.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 5th. Lake Street Capital reissued a “buy” rating on shares of Dave in a report on Wednesday, December 24th. Canaccord Genuity Group raised their price objective on shares of Dave from $229.00 to $274.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Dave in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $304.25.

About Dave

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.