Dan Preston, a director at Dave Inc./DE (NASDAQ:DAVE), has completed the sale of company stock worth $139,557 across two separate transactions during the first week of June. The divestment activity was formally disclosed in a Form 4 filing submitted to the Securities and Exchange Commission on June 8, 2026.
Preston disposed of 275 shares of Class A Common Stock on June 4, 2026. The following day, on June 5, 2026, he sold an additional 275 shares. The transaction prices for these shares ranged between $247.65 and $259.83 per share. These sales were executed pursuant to a Rule 10b5-1 trading plan that Preston established on December 10, 2025. Following the completion of these transactions, Preston retains direct ownership of 5,191 shares of Dave Inc./DE Class A Common Stock.
The stock price has shown upward momentum following the reported sales, climbing to $270.29. This represents an increase from the $258.25 closing price recorded prior to the execution of Preston's sales. While the stock has experienced a 4.3% decline over the past week, it has surged 34% over the last six months. According to InvestingPro analysis, DAVE appears undervalued at current levels, with the stock earning a "GREAT" financial health score of 3.61 out of 5.
This insider activity occurs against a backdrop of robust financial results reported by Dave Inc. for the first quarter of 2026. The company surpassed analyst expectations, achieving an adjusted earnings per share of $3.64. This figure significantly exceeds the consensus estimate of $2.22, marking a 64% year-over-year increase. Revenue for the quarter reached $158.4 million, exceeding the forecasted $151.83 million and reflecting a 47% growth compared to the previous year. Service-based revenue also saw a notable increase, growing by 51% year-over-year.
In response to these strong results, Freedom Broker raised its price target for Dave Inc. shares to $370 while maintaining a Buy rating. Similarly, Citizens increased its price target to $365, also citing the robust quarterly performance. Benchmark reaffirmed its Buy rating with a $345 price target, emphasizing the company's growth durability. Additionally, UBS initiated coverage with a Buy rating and a price target of $300, projecting mid-teens member growth and mid-20s percentage revenue and gross profit growth in the medium term. These developments highlight the positive outlook from analysts following Dave Inc.'s recent performance.