Wellington Management Group LLP Trims Stake in Dave Inc. $DAVE

Wellington Management Group LLP reduced its position in Dave Inc. (NASDAQ:DAVE) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,175 shares of the fintech company’s stock after selling 13,867 shares during the quarter. Wellington Management Group LLP’s holdings in Dave were worth $79,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in Dave by 819.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 209,008 shares of the fintech company’s stock valued at $41,666,000 after buying an additional 186,273 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Dave in the 4th quarter worth approximately $27,874,000. Estuary Capital Management LP acquired a new stake in Dave in the first quarter valued at $20,556,000. Renaissance Technologies LLC grew its stake in Dave by 29.2% in the 4th quarter. Renaissance Technologies LLC now owns 499,100 shares of the fintech company’s stock valued at $110,506,000 after acquiring an additional 112,700 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Dave in the first quarter valued at approximately $18,313,000. Hedge funds and other institutional investors own 18.01% of the company’s stock.

Analyst Upgrades and Downgrades

DAVE has been the subject of a number of recent research reports. Freedom Capital upgraded Dave to a “hold” rating in a research report on Thursday, July 30th. Citigroup reaffirmed an “outperform” rating on shares of Dave in a research report on Thursday, August 6th. Benchmark lifted their price target on shares of Dave from $345.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods boosted their price objective on Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Dave from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dave has a consensus rating of “Moderate Buy” and a consensus price target of $410.82.

Dave Price Performance

Shares of DAVE opened at $372.85 on Thursday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.93. Dave Inc. has a 52 week low of $152.21 and a 52 week high of $458.25. The stock has a 50 day moving average of $377.16 and a 200-day moving average of $282.95. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 24.18 and a beta of 3.83.

Dave (NASDAQ:DAVE) last issued its earnings results on Wednesday, August 5th. The fintech company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $171.11 million. Dave has set its FY 2026 guidance at 17.000-17.500 EPS. As a group, analysts forecast that Dave Inc. will post 13.71 EPS for the current year.

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.