Dave Inc./DE (NASDAQ:DAVE) reported that its Chief Financial Officer and Secretary, Kyle Beilman, sold shares of the company's Class A Common Stock on March 14, 2024. The transaction involved the sale of 4,188 shares at an average price of $33.26, totaling approximately $139,292.
The sale was executed in multiple transactions with prices ranging from $33.20 to $33.82. Following the sale, Beilman's direct ownership in the company stands at 189,143 shares of Class A Common Stock.
The transactions were disclosed in a regulatory filing with the Securities and Exchange Commission (SEC). According to the filing, the shares were sold primarily to satisfy tax obligations related to the vested portion of restricted stock units (RSUs).
Investors often monitor insider transactions as they can provide insights into an executive's confidence in the company's prospects. The sale by Beilman comes as part of his financial planning and obligations and is not necessarily indicative of the company's future performance.
Dave Inc. is a financial services company based in Los Angeles, California, known for its digital banking platform. The company has been listed under the ticker symbol DAVE on the NASDAQ stock exchange.
For further details on the transactions, including the specific prices at which the stock was sold, Dave Inc. has offered to provide full information upon request to the issuer, any security holder of the issuer, or the staff of the SEC.
InvestingPro Insights
Amid the insider sale by Dave Inc.'s (NASDAQ:DAVE) CFO, Kyle Beilman, the company's financial health and market performance continue to be areas of interest for investors. According to InvestingPro data, Dave Inc. has a market capitalization of $429.31 million, highlighting its mid-tier position in the market. Despite a notable revenue growth of 26.49% in the last twelve months as of Q4 2023, the company's P/E ratio stands at -8.27, suggesting that investors are anticipating future growth beyond current earnings.
InvestingPro Tips indicate that Dave Inc. has experienced strong returns, with a 386.91% increase in price total return over the past year and a significant 308.23% year-to-date price total return. This performance aligns with the company's high price volatility, as noted by the tips, which is a characteristic investors may want to consider when evaluating the stock.
Furthermore, the company does not pay dividends to shareholders, which might be a factor for income-focused investors to consider. With the next earnings date slated for May 9, 2024, stakeholders will be keen to see if the company's strategic initiatives align with its growth trajectory.
For those looking to delve deeper into Dave Inc.'s financials and stock performance, InvestingPro offers a wealth of additional tips. There are 13 more InvestingPro Tips available that can provide further insights into the company's valuation, liquidity, and profitability. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with comprehensive tools and data.
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