Selling Buzz: Dave Inc. [DAVE] 10% Owner Section 32 Fund 1, LP sells 24,181 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Dave Inc. shares valued at $12,095 were sold by Section 32 Fund 1, LP on Sep 15. At $0.50 per share, Section 32 Fund 1, LP sold 24,181 shares. The insider’s holdings dropped to 93,197,527 shares worth approximately $38.21 million following the completion of this transaction.

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Also, Section 32 Fund 1, LP sold 18,181 shares, netting a total of over 9,200 in proceeds. Following the sale of shares at $0.51 each, the insider now holds 93,221,708 shares.

Before that, Section 32 Fund 1, LP had sold 65,133 shares from its account. In a trade valued at $34,651, the 10% Owner traded Dave Inc. shares for $0.53 each. Upon closing the transaction, the insider’s holdings decreased to 65,133 shares, worth approximately $38.23 million.

As published in their initiating research note from Jefferies on April 25, 2022, Dave Inc. [DAVE] has been a Hold and the price target has been revised to $5. This represents a 91.8% premium over Thursday’s closing price.

Analyzing DAVE’s Price Performance

On Thursday, Dave Inc. [NASDAQ: DAVE] plunged -8.57% to $0.41. The stock’s lowest price that day was $0.4029, but it reached a high of $0.455 in the same session. During the last five days, there has been a drop of approximately -16.60%. Over the course of the year, Dave Inc. shares have dropped approximately -95.95%. Shares of the company reached a 52-week high of $15.3459 on 02/02/22 and a 52-week low of $0.4029 on 09/22/22. A 50-day SMA is recorded $0.5866, while a 200-day SMA reached $4.3403. Nevertheless, trading volume fell to 1.54 million shares from 2.99 million shares the previous day.

Support And Resistance Levels for Dave Inc. (DAVE)

According to the 24-hour chart, there is a support level at 0.3936, which, if violated, would cause prices to drop to 0.3722. In the upper region, resistance lies at 0.4457. The next price resistance is at 0.4764. RSI (Relative Strength Index) is 33.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0331, which suggests the price will decrease in the coming days. Percent R is at 91.17%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Dave Inc. subject to short interest?

Stocks of Dave Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.16 million shares to 5.46 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.62 million shares. A decline of -21.25% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.85 of the overall float, the days-to-cover ratio (short ratio) decline to 2.85.

Which companies own the most shares of Dave Inc. (DAVE)?

According to Tiger Global Management LLC filings, the company currently owns 6,322,616 shares, which is about 1.94% of the total DAVE shares outstanding. The investor’s shares have plunged by -7,521,843 from its previous 13-F filing of 13844459.0 shares. BlackRock Fund Advisors acquire a 1.14% interest valued at $1.2 million while The Vanguard Group, Inc. purchased a 43,567 stake. A total of 36,933 shares of Dave Inc. were bought by Geode Capital Management LLC during the quarter, and 1,266,926 were bought by Millennium Management LLC. In its current portfolio, Charles Schwab Investment Managem holds 819,394 shares valued at $0.42 million.

In terms of Dave Inc. share price expectations, FactSet research, analysts set an average price target of $0.55 in the next 12 months, up nearly 22.22% from the previous closing price of $0.45. Analysts anticipate Dave Inc. stock to reach $0.55 by 2022, with the lowest price target being $0.55.


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