VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in Dave Inc. $DAVE

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Dave Inc. (NASDAQ:DAVE) during the second quarter, HoldingsChannel reports. The fund acquired 9,100 shares of the fintech company’s stock, valued at approximately $3,391,000.

A number of other institutional investors have also recently added to or reduced their stakes in DAVE. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Dave by 92.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,273 shares of the fintech company’s stock worth $1,440,000 after acquiring an additional 3,971 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Dave during the first quarter worth $1,835,000. Estuary Capital Management LP purchased a new stake in Dave during the first quarter worth $20,556,000. Inspire Investing LLC acquired a new stake in Dave in the first quarter valued at $1,371,000. Finally, Prospect Capital Advisors LLC grew its holdings in Dave by 39.4% in the first quarter. Prospect Capital Advisors LLC now owns 52,240 shares of the fintech company’s stock valued at $9,094,000 after purchasing an additional 14,760 shares during the last quarter. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Dave Price Performance

Shares of NASDAQ:DAVE opened at $361.88 on Thursday. The company has a market cap of $4.62 billion, a P/E ratio of 23.47 and a beta of 3.83. The business has a fifty day simple moving average of $378.99 and a 200-day simple moving average of $289.99. Dave Inc. has a 52 week low of $152.21 and a 52 week high of $458.25. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.93.

Dave (NASDAQ:DAVE) last released its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($2.95). Dave had a return on equity of 77.46% and a net margin of 34.58%.The business had revenue of $170.79 million for the quarter, compared to analysts’ expectations of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. Equities research analysts forecast that Dave Inc. will post 13.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Benchmark raised their price objective on shares of Dave from $345.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Zacks Research cut Dave from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Canaccord Genuity Group boosted their target price on shares of Dave from $342.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Dave from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Finally, Barrington Research raised their price target on shares of Dave from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, June 12th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $418.25.

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.