Dave (DAVE)
Market Price (10/26/2026): $354.75 | Market Cap: $4.5 BilSector: Financials | Industry: Consumer Finance
Dave (DAVE)
Market Price (10/26/2026): $354.75Market Cap: $4.5 BilSector: FinancialsIndustry: Consumer Finance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 49% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 50% Attractive yieldFCF Yield is 7.1% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 21x Key risksDAVE key risks include [1] existential regulatory and legal challenges to its core ExtraCash product, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 49% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 50% |
| Attractive yieldFCF Yield is 7.1% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 21x |
| Key risksDAVE key risks include [1] existential regulatory and legal challenges to its core ExtraCash product, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 10/9/2026
Dave (DAVE) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Strong fiscal Q2 2026 performance and increased full-year guidance were likely counterbalanced by significant market concerns regarding Dave's valuation. Dave reported robust financial results for fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with earnings per share (EPS) of $4.12, exceeding analysts' expectations of $3.69 by 11.65%. Revenue also grew 30% year-over-year to $171 million. The company further raised its full-year 2026 guidance across key metrics, including revenue and adjusted diluted EPS. Despite these positive operational signals, the stock was considered "significantly overvalued" on October 9, 2026, with its market price of $368.42 standing 99.3% above its GF Value™ of $184.85. Additionally, Dave's price-to-earnings (P/E) ratio of 23.9x was 13% higher than its 5-year median P/E of 21.1x, suggesting that much of the company's projected growth might have already been factored into its stock price. This valuation premium likely muted further upward movement despite the strong earnings beat and raised outlook.
2. Strategic initiatives focused on capital efficiency and long-term growth were underway, but a major new product was not anticipated to generate significant revenue in the immediate fiscal year 2026, limiting near-term catalysts. Dave announced that its new funding arrangement with Coastal Community Bank, which commenced in June 2026, was scaling up. This initiative aimed to enhance capital efficiency, reduce funding costs, and free up approximately $100 million of cash on the balance sheet. The company was also expanding its Cash AI V6 and actively testing the Dave Flex Card, a new pay-in-4 product. However, management explicitly stated during the fiscal Q2 2026 earnings call that the Flex Card was not expected to contribute meaningful revenue in fiscal year 2026. While these developments signaled positive future prospects and a disciplined growth strategy, the absence of an immediate revenue impact from key new offerings meant there were no strong new catalysts to drive substantial stock price appreciation within the specified period.
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Dave (DAVE) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Strong fiscal Q2 2026 performance and increased full-year guidance were likely counterbalanced by significant market concerns regarding Dave's valuation. Dave reported robust financial results for fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with earnings per share (EPS) of $4.12, exceeding analysts' expectations of $3.69 by 11.65%. Revenue also grew 30% year-over-year to $171 million. The company further raised its full-year 2026 guidance across key metrics, including revenue and adjusted diluted EPS. Despite these positive operational signals, the stock was considered "significantly overvalued" on October 9, 2026, with its market price of $368.42 standing 99.3% above its GF Value™ of $184.85. Additionally, Dave's price-to-earnings (P/E) ratio of 23.9x was 13% higher than its 5-year median P/E of 21.1x, suggesting that much of the company's projected growth might have already been factored into its stock price. This valuation premium likely muted further upward movement despite the strong earnings beat and raised outlook.
2. Strategic initiatives focused on capital efficiency and long-term growth were underway, but a major new product was not anticipated to generate significant revenue in the immediate fiscal year 2026, limiting near-term catalysts. Dave announced that its new funding arrangement with Coastal Community Bank, which commenced in June 2026, was scaling up. This initiative aimed to enhance capital efficiency, reduce funding costs, and free up approximately $100 million of cash on the balance sheet. The company was also expanding its Cash AI V6 and actively testing the Dave Flex Card, a new pay-in-4 product. However, management explicitly stated during the fiscal Q2 2026 earnings call that the Flex Card was not expected to contribute meaningful revenue in fiscal year 2026. While these developments signaled positive future prospects and a disciplined growth strategy, the absence of an immediate revenue impact from key new offerings meant there were no strong new catalysts to drive substantial stock price appreciation within the specified period.
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Updated on 10/9/2026
Dave (DAVE) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Strong fiscal Q2 2026 performance and increased full-year guidance were likely counterbalanced by significant market concerns regarding Dave's valuation. Dave reported robust financial results for fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with earnings per share (EPS) of $4.12, exceeding analysts' expectations of $3.69 by 11.65%. Revenue also grew 30% year-over-year to $171 million. The company further raised its full-year 2026 guidance across key metrics, including revenue and adjusted diluted EPS. Despite these positive operational signals, the stock was considered "significantly overvalued" on October 9, 2026, with its market price of $368.42 standing 99.3% above its GF Value™ of $184.85. Additionally, Dave's price-to-earnings (P/E) ratio of 23.9x was 13% higher than its 5-year median P/E of 21.1x, suggesting that much of the company's projected growth might have already been factored into its stock price. This valuation premium likely muted further upward movement despite the strong earnings beat and raised outlook.
2. Strategic initiatives focused on capital efficiency and long-term growth were underway, but a major new product was not anticipated to generate significant revenue in the immediate fiscal year 2026, limiting near-term catalysts. Dave announced that its new funding arrangement with Coastal Community Bank, which commenced in June 2026, was scaling up. This initiative aimed to enhance capital efficiency, reduce funding costs, and free up approximately $100 million of cash on the balance sheet. The company was also expanding its Cash AI V6 and actively testing the Dave Flex Card, a new pay-in-4 product. However, management explicitly stated during the fiscal Q2 2026 earnings call that the Flex Card was not expected to contribute meaningful revenue in fiscal year 2026. While these developments signaled positive future prospects and a disciplined growth strategy, the absence of an immediate revenue impact from key new offerings meant there were no strong new catalysts to drive substantial stock price appreciation within the specified period.
3. Notable insider selling, particularly by a director, potentially signaled a cautious outlook or profit-taking by key stakeholders, counteracting positive sentiment from operational performance. Insider trading activity showed a mixed, but overall negative, trend since June 30, 2026, with insiders selling $31.5 million worth of shares over the preceding 12 months. Specifically, Director Brendan Carroll executed an open market sale of approximately $12.3 million worth of shares on September 14, 2026. Furthermore, Director Yadin Rozov indicated an intent to sell approximately $20.26 million in common stock on September 16, 2026, having already reduced holdings by about $4.19 million since September 8, 2026. While CEO Jason Wilk and CFO Kyle Beilman made significant "other" purchases of $13 million and $14 million respectively on September 11, 2026, the substantial value of shares sold by other directors exceeding the $5 million threshold could have created downward pressure or dampened investor confidence, suggesting that some insiders might believe the stock was fully valued or facing future headwinds.
Show less
Dave (DAVE) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Strong fiscal Q2 2026 performance and increased full-year guidance were likely counterbalanced by significant market concerns regarding Dave's valuation. Dave reported robust financial results for fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with earnings per share (EPS) of $4.12, exceeding analysts' expectations of $3.69 by 11.65%. Revenue also grew 30% year-over-year to $171 million. The company further raised its full-year 2026 guidance across key metrics, including revenue and adjusted diluted EPS. Despite these positive operational signals, the stock was considered "significantly overvalued" on October 9, 2026, with its market price of $368.42 standing 99.3% above its GF Value™ of $184.85. Additionally, Dave's price-to-earnings (P/E) ratio of 23.9x was 13% higher than its 5-year median P/E of 21.1x, suggesting that much of the company's projected growth might have already been factored into its stock price. This valuation premium likely muted further upward movement despite the strong earnings beat and raised outlook.
2. Strategic initiatives focused on capital efficiency and long-term growth were underway, but a major new product was not anticipated to generate significant revenue in the immediate fiscal year 2026, limiting near-term catalysts. Dave announced that its new funding arrangement with Coastal Community Bank, which commenced in June 2026, was scaling up. This initiative aimed to enhance capital efficiency, reduce funding costs, and free up approximately $100 million of cash on the balance sheet. The company was also expanding its Cash AI V6 and actively testing the Dave Flex Card, a new pay-in-4 product. However, management explicitly stated during the fiscal Q2 2026 earnings call that the Flex Card was not expected to contribute meaningful revenue in fiscal year 2026. While these developments signaled positive future prospects and a disciplined growth strategy, the absence of an immediate revenue impact from key new offerings meant there were no strong new catalysts to drive substantial stock price appreciation within the specified period.
3. Notable insider selling, particularly by a director, potentially signaled a cautious outlook or profit-taking by key stakeholders, counteracting positive sentiment from operational performance. Insider trading activity showed a mixed, but overall negative, trend since June 30, 2026, with insiders selling $31.5 million worth of shares over the preceding 12 months. Specifically, Director Brendan Carroll executed an open market sale of approximately $12.3 million worth of shares on September 14, 2026. Furthermore, Director Yadin Rozov indicated an intent to sell approximately $20.26 million in common stock on September 16, 2026, having already reduced holdings by about $4.19 million since September 8, 2026. While CEO Jason Wilk and CFO Kyle Beilman made significant "other" purchases of $13 million and $14 million respectively on September 11, 2026, the substantial value of shares sold by other directors exceeding the $5 million threshold could have created downward pressure or dampened investor confidence, suggesting that some insiders might believe the stock was fully valued or facing future headwinds.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -4.8% change in DAVE stock from 6/30/2026 to 10/24/2026 was primarily driven by a -8.9% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 372.59 | 354.60 | -4.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 605 | 644 | 6.5% |
| Net Income Margin (%) | 37.2% | 34.6% | -7.0% |
| P/E Multiple | 22.2 | 20.3 | -8.9% |
| Shares Outstanding (Mil) | 13 | 13 | 5.6% |
| Cumulative Contribution | -4.8% |
Market Drivers
6/30/2026 to 10/24/2026| Return | Correlation | |
|---|---|---|
| DAVE | -4.8% | |
| Market (SPY) | 1.8% | 39.4% |
| Sector (XLF) | 4.3% | 43.4% |
Fundamental Drivers
The 103.7% change in DAVE stock from 3/31/2026 to 10/24/2026 was primarily driven by a 68.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 174.09 | 354.60 | 103.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 554 | 644 | 16.1% |
| Net Income Margin (%) | 35.3% | 34.6% | -2.1% |
| P/E Multiple | 12.0 | 20.3 | 68.7% |
| Shares Outstanding (Mil) | 14 | 13 | 6.2% |
| Cumulative Contribution | 103.7% |
Market Drivers
3/31/2026 to 10/24/2026| Return | Correlation | |
|---|---|---|
| DAVE | 103.7% | |
| Market (SPY) | 17.2% | 40.5% |
| Sector (XLF) | 13.6% | 34.5% |
Fundamental Drivers
The 77.9% change in DAVE stock from 9/30/2025 to 10/24/2026 was primarily driven by a 171.7% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 199.35 | 354.60 | 77.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 433 | 644 | 48.6% |
| Net Income Margin (%) | 12.7% | 34.6% | 171.7% |
| P/E Multiple | 48.3 | 20.3 | -58.1% |
| Shares Outstanding (Mil) | 13 | 13 | 5.1% |
| Cumulative Contribution | 77.9% |
Market Drivers
9/30/2025 to 10/24/2026| Return | Correlation | |
|---|---|---|
| DAVE | 77.9% | |
| Market (SPY) | 15.0% | 45.5% |
| Sector (XLF) | 5.0% | 43.0% |
Fundamental Drivers
The 5619.4% change in DAVE stock from 9/30/2023 to 10/24/2026 was primarily driven by a 2150.5% change in the company's P/S Multiple.| (LTM values as of) | 9302023 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.20 | 354.60 | 5619.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 237 | 644 | 172.0% |
| P/S Multiple | 0.3 | 7.0 | 2150.5% |
| Shares Outstanding (Mil) | 12 | 13 | -6.6% |
| Cumulative Contribution | 5619.4% |
Market Drivers
9/30/2023 to 10/24/2026| Return | Correlation | |
|---|---|---|
| DAVE | 5619.4% | |
| Market (SPY) | 83.9% | 35.7% |
| Sector (XLF) | 75.9% | 35.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DAVE Return | 5% | -97% | -10% | 937% | 155% | 73% | 22% |
| Peers Return | 67% | -77% | 174% | 34% | 10% | -15% | 31% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| DAVE Win Rate | 78% | 33% | 33% | 75% | 58% | 60% | |
| Peers Win Rate | 40% | 27% | 56% | 46% | 51% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| DAVE Max Drawdown | - | -98% | -54% | -44% | -40% | -35% | |
| Peers Max Drawdown | -52% | -79% | -58% | -39% | -51% | -43% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CHYM, SOFI, AFRM, UPST, GDOT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/23/2026 (YTD)
How Low Can It Go
| Event | DAVE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.4% | -18.8% |
| % Gain to Breakeven | 59.8% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -12.0% | -7.8% |
| % Gain to Breakeven | 13.6% | 8.5% |
| Time to Breakeven | 4 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -46.9% | -6.7% |
| % Gain to Breakeven | 88.5% | 7.1% |
| Time to Breakeven | 215 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -96.3% | -24.5% |
| % Gain to Breakeven | 2630.3% | 32.4% |
| Time to Breakeven | 976 days | 427 days |
In The Past
Dave's stock fell -37.4% during the 2025 US Tariff Shock. Such a loss loss requires a 59.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | DAVE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.4% | -18.8% |
| % Gain to Breakeven | 59.8% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -46.9% | -6.7% |
| % Gain to Breakeven | 88.5% | 7.1% |
| Time to Breakeven | 215 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -96.3% | -24.5% |
| % Gain to Breakeven | 2630.3% | 32.4% |
| Time to Breakeven | 976 days | 427 days |
In The Past
Dave's stock fell -37.4% during the 2025 US Tariff Shock. Such a loss loss requires a 59.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Dave (DAVE)
Dave Inc. (symbol: DAVE) is a financial technology company that operates an online platform providing a suite of financial products and services. Founded in 2015, the company is headquartered in West Hollywood, California, and aims to help individuals manage their personal finances, particularly between paychecks, and avoid common banking fees.
The company's main offerings include "Insights," a personal financial management tool for tracking income and expenses. Its flagship product, "ExtraCash," serves as a free alternative to traditional overdraft services and short-term credit, allowing members to advance funds to their accounts and avoid associated fees. Dave also provides "Dave Banking," a digital checking and demand deposit account, and "Side Hustle," a job application portal designed to help members find additional income opportunities. Its primary customers are individuals seeking accessible financial management, short-term liquidity solutions, and modern banking alternatives, often those focused on budgeting and avoiding costly traditional bank charges.
AI Analysis | Feedback
Here are 1-3 brief analogies for Dave (DAVE):
1. Chime for managing cash flow and avoiding overdrafts.
2. Like Chime, but with tools to help you find extra income.
AI Analysis | Feedback
- Insights: A personal financial management tool for tracking income and expenses.
- ExtraCash: A free overdraft and short-term credit alternative for advancing funds.
- Side Hustle: A job application portal.
- Dave Banking: A digital checking and demand deposit account.
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Customer Categories for Dave Inc. (DAVE)
Dave Inc. primarily sells its financial products and services directly to individuals. Based on the services it offers, its customer base can be categorized as follows:- Individuals seeking short-term liquidity and overdraft protection: This category includes members who utilize the "ExtraCash" feature to receive cash advances and avoid traditional bank overdraft fees, often reflecting a need for managing unexpected expenses or bridging gaps between paychecks.
- Individuals focused on personal financial management and budgeting: These customers use the "Insights" tool to track their income and expenses, manage their money more effectively between paychecks, and gain better control over their financial health.
- Individuals looking for supplementary income or employment opportunities: This segment consists of members who leverage the "Side Hustle" portal to find part-time jobs, gig work, or new employment to augment their income.
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- Evolve Bank & Trust
- Galileo Financial Technologies, LLC (SoFi Technologies Inc. (SOFI))
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Jason Wilk, Chief Executive Officer, President, and Co-Founder
Jason Wilk co-founded Dave in May 2016 and has over 15 years of experience building digital companies. He previously founded 1DaySports.com, a golf equipment retail website, which was acquired in 2008. Wilk also founded AllScreen.TV, a video distribution network that was sold for $85 million in 2015. He also co-founded WriteyBoard in 2010 and continues to act as an advisor.
Kyle Beilman, Chief Financial Officer and Chief Operating Officer
Kyle Beilman joined Dave in 2017 as one of its first employees, playing a key role in the company going public in January 2022. He oversees strategic finance, corporate development, accounting, business operations, member success, and investor relations. Prior to Dave, he worked in investment banking and corporate strategy at Red Bull.
Parker Barrile, Chief Product Officer
Parker Barrile joined Dave in November 2025, overseeing product strategy, development, and execution. Before this, he was a Partner at Norwest Venture Partners, where he led Dave's Series B funding round and served as a board member. His earlier career includes serving as Chief Product Officer at Prosper and Vice President of Product at LinkedIn, where he led a product organization during a period of significant revenue growth.
Joan Aristei, Chief Legal Officer
Joan Aristei was named Chief Legal Officer of Dave, effective September 25, 2023. She has over three decades of experience in fintech and financial services. Prior to Dave, she was General Counsel and Chief Risk Officer at Oportun for over nine years, where she led legal affairs, compliance initiatives, risk management, and regulatory support, including Oportun's successful IPO in 2019. She also held roles at Citigroup Private Bank and JP Morgan Chase Auto and Student Lending division.
Paras Chitrakar, Co-Founder and Chief Technology Officer
Paras Chitrakar is a co-founder of Dave and serves as Chief Technology Officer, overseeing the company's technological direction and infrastructure. He previously co-founded and served as CTO of AllScreen and ResumeBucket.com, and worked as a Software Developer at Oversee.net.
AI Analysis | Feedback
The key risks to Dave Inc.'s business are primarily regulatory scrutiny, its reliance on key banking partners, and inherent credit risk associated with its primary product.
- Regulatory Scrutiny and Legal Challenges: Dave Inc. faces significant regulatory and legal risks, primarily concerning its ExtraCash product. The Federal Trade Commission (FTC) and Department of Justice (DOJ) filed complaints in late 2024, alleging deceptive advertising regarding cash advance amounts, undisclosed fees, and misleading practices concerning "tips" charged to consumers. These "tips" and express fees are a substantial component of Dave's revenue. Additionally, the Consumer Financial Protection Bureau (CFPB) has proposed interpretive rules that could classify earned wage access (EWA) products like ExtraCash as consumer loans, subjecting them to disclosure requirements under the Truth in Lending Act (TILA). The City of Baltimore also initiated a lawsuit in late 2025 alleging deceptive marketing and excessive fees. These actions could necessitate fundamental changes to Dave's business model, lead to substantial compliance costs, financial penalties, and reputational damage, directly impacting its revenue and profitability.
- Reliance on Banking Partners: Dave's business model is highly dependent on partnerships with FDIC-insured banks for the origination of its ExtraCash advances and the issuance of Dave Debit Cards. Evolve Bank & Trust has been identified as a key banking partner facing regulatory distress, including a cease-and-desist order from federal and state regulators in June 2024 for deficient risk management and compliance, and potential liabilities related to the Synapse bankruptcy. Any disruption, termination, or increased scrutiny of these critical banking relationships could severely impede Dave's operations, limit its product offerings, and negatively impact its financial condition.
- Credit Risk and Macroeconomic Sensitivity: Dave provides unsecured cash advances through its ExtraCash product, primarily targeting "financially vulnerable" consumers who often live paycheck-to-paycheck. While the company utilizes an AI-driven underwriting system (CashAI) to manage risk, the nature of its customer base makes its loan portfolio inherently susceptible to macroeconomic fluctuations, such as rising interest rates, inflation, and unemployment. An increase in these unfavorable economic factors can lead to higher delinquency rates and increased credit losses, which could negatively affect Dave's financial performance. The average 28-day delinquency rate for ExtraCash originations has shown an upward trend.
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- Traditional financial institutions (banks) increasingly offering their own low-to-no-fee short-term cash advance products or overdraft alternatives. Many major banks are already piloting or rolling out such features, directly competing with Dave's core ExtraCash offering and potentially leveraging their existing customer base and trust.
- The widespread adoption of employer-sponsored Earned Wage Access (EWA) solutions as a free employee benefit. If employers offer direct, free access to earned wages before payday, it provides a highly convenient and integrated alternative to third-party cash advance apps like Dave, potentially diminishing the need for ExtraCash.
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Here are the addressable market sizes for Dave Inc.'s main products and services:
- Overall Addressable Market: Dave Inc. estimates its total addressable market in the U.S. to be approximately 185 million customers as of Q3 2025.
- Insights (Personal Financial Management): The personal finance software market in the U.S. was valued at USD 285 million (based on a five-year historical analysis) and is projected to reach USD 0.34 billion by 2026. The global Personal Finance Management market was estimated at USD 8.2 billion in 2024 and is projected to reach USD 16 billion by 2031.
- ExtraCash (Overdraft and Short-Term Credit Alternative): Consumers in the U.S. paid over $5.8 billion in overdraft and non-sufficient funds (NSF) fees in 2023. In 2024, banks reported collecting $6.1 billion in overdraft revenue in the U.S. The alternative lending market in the United States is projected to reach US$62.78 billion by 2025 and approximately US$105.3 billion by 2029. The U.S. alternative financing market was valued at USD 70 billion in 2025 and is projected to reach around USD 72 billion in 2026.
- Side Hustle (Job Application Portal - Gig Economy): The global Gig Economy Platforms market size was US$ 451 billion in 2025 and is forecast to reach US$ 1.18 trillion by 2032. The U.S. represents the world's largest Gig Economy Market, with more than 59 million American gig workers active in 2024. In the U.S. alone, approximately 59 million people participated in gig work in 2023.
- Dave Banking (Digital Checking and Demand Deposit Account): The U.S. digital banking market had approximately 130.4 million active users in 2024, a number estimated to reach around 150 million users by 2032. In terms of revenue, the U.S. market generated USD 1.839 billion in 2024 and is anticipated to reach USD 3.859 billion by 2032. The global digital banking market is expected to reach USD 1.4 trillion by 2028, with North America gaining a substantial share.
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Here are 3-5 expected drivers of future revenue growth for Dave Inc. (DAVE) over the next 2-3 years:
- Growth in Monthly Transacting Members (MTMs) and Average Revenue Per User (ARPU): Dave's management has a baseline growth algorithm that anticipates mid-teens growth in Monthly Transacting Members (MTMs) and low double-digit growth in Average Revenue Per User (ARPU) for several years. This sustained growth in its user base and the revenue generated per user is a key driver for overall revenue expansion.
- Expansion and Improved Monetization of the ExtraCash Product: ExtraCash is highlighted as the primary revenue engine for Dave. Future revenue growth is expected to be driven by increasing the average origination size of ExtraCash advances and enhancing monetization rates. These improvements are largely attributed to advancements in the company's proprietary AI underwriting system, CashAI.
- Introduction of New Products and Services: Dave plans to launch new offerings that are expected to contribute to revenue growth. Specifically, the company is introducing the Flex Card, which aims to compete in the subprime credit card market, and a "pay in 4" product, which represents new short-term credit opportunities.
- Enhancements to AI-Driven Underwriting (CashAI): Continuous development and deployment of its CashAI underwriting system, including the current CashAI v5.5 and planned CashAI v6.0, are crucial for future revenue growth. These AI enhancements are designed to improve credit performance, leading to higher average advance amounts and reduced loss rates, which directly impact profitability and top-line growth.
- Strategic Transition to a Partner Bank Funding Structure: Dave is transitioning its ExtraCash receivables to an off-balance sheet structure with a partner bank, Coastal Community Bank. This strategic move is anticipated to unlock over $200 million in liquidity, providing capital that can be reinvested into growth initiatives and further product development, thereby fueling future revenue generation.
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Share Repurchases
- In March 2026, Dave Inc.'s Board of Directors approved a new $300 million Class A share repurchase authorization, which superseded a previous $125 million authorization.
- The $125 million authorization, approved in August 2025, had replaced an earlier $50 million authorization announced in March 2025.
- As of August 2025 year-to-date, Dave had deployed over $45 million in share repurchases and RSU net settlements to reduce its share count.
Share Issuance
- In March 2026, Dave Inc. closed a private offering of $200 million in 0% Convertible Senior Notes due 2031 to qualified institutional buyers, resulting in approximately $192.1 million in net proceeds.
- This convertible notes offering was an increase from a previously announced $175 million principal amount.
Peer Outperformance in Consumer Finance
DAVE has trailed 52% of its 29 Consumer Finance peers over 5Y. Consumer Finance ranks 11th of 18 industries in Financials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Consumer Finance constituents that DAVE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
84%
of 32 industry peers · 42.6% return
3Y
100%
of 29 industry peers · 6866.6% return
5Y
48%
of 29 industry peers · 11.5% return
No Consumer Finance peer with a comparable growth profile has beaten DAVE by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Consumer Finance is DAVE's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 28.7% | 75.2% | 121.5% | SPNT 173% · RNR 148% · RGA 146% |
| Diversified Banks | 12 | 26.4% | 152.5% | 88.0% | CM 137% · RY 123% · JPM 119% |
| Life & Health Insurance | 20 | 14.7% | 55.4% | 74.1% | JXN 472% · UNM 277% · MFC 176% |
| Investment Banking & Brokerage | 13 | -14.4% | 108.1% | 71.9% | IBKR 343% · SNEX 168% · HOOD 140% |
| Property & Casualty Insurance | 42 | 15.1% | 71.3% | 66.7% | TRV 170% · PGR 166% · ACGL 147% |
| Multi-line Insurance | 9 | 6.3% | 66.1% | 57.5% | GNW 99% · L 98% · AIZ 87% |
| Multi-Sector Holdings | 3 | 4.0% | 57.0% | 52.5% | BRK-B 87% · VOYA 52% · JEF 28% |
| Regional Banks | 264 | 30.2% | 104.2% | 51.1% | CBC 241% · FCNCA 186% · NIC 148% |
| Financial Exchanges & Data | 15 | 13.8% | 39.1% | 32.1% | CBOE 181% · VIRT 152% · CME 73% |
| Insurance Brokers | 15 | -3.4% | 10.1% | 22.9% | LIFE 405% · ARX 88% · AJG 71% |
| Consumer Finance ← | 30 | 0.0% | 79.9% | 14.7% | ENVA 374% · FCFS 102% · AGM 92% |
| Diversified Financial Services | 4 | -9.1% | 23.5% | 3.5% | FRHC 160% · EQH 77% |
| Asset Management & Custody Banks | 85 | -12.8% | 19.9% | 2.8% | WT 283% · AAMI 246% · VCTR 241% |
| Commercial & Residential Mortgage Finance | 14 | -57.9% | 26.5% | -8.5% | FNMA 386% · FMCC 347% · ACT 161% |
| Specialized Finance | 3 | 7.6% | 44.9% | -12.4% | CACC -12% · HASI -22% |
| Mortgage REITs | 34 | -20.1% | 0.7% | -32.8% | RITM 36% · DX 20% · AGNC 8% |
| Transaction & Payment Processing Services | 17 | 5.3% | 12.0% | -34.1% | V 83% · MA 79% · CPAY 47% |
| Diversified Capital Markets | 20 | -55.6% | 2.1% | -66.5% | LPLA 85% · TW 46% · RIOT -56% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 26.62 |
| Mkt Cap | 7.9 |
| Rev LTM | 2,363 |
| Op Inc LTM | 123 |
| FCF LTM | 196 |
| FCF 3Y Avg | 54 |
| CFO LTM | 241 |
| CFO 3Y Avg | 128 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 36.6% |
| Rev Chg 3Y Avg | 34.5% |
| Rev Chg Q | 31.3% |
| QoQ Delta Rev Chg LTM | 6.9% |
| Op Inc Chg LTM | 108.7% |
| Op Inc Chg 3Y Avg | 152.8% |
| Op Mgn LTM | 10.7% |
| Op Mgn 3Y Avg | 6.5% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 10.4% |
| CFO/Rev 3Y Avg | 6.6% |
| FCF/Rev LTM | 8.1% |
| FCF/Rev 3Y Avg | 2.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2020 |
|---|---|---|---|---|---|
| Single segment | 554 | 347 | 259 | ||
| ATM revenue, net | 3 | ||||
| Interchange revenue, net | 11 | ||||
| Other | 3 | ||||
| Processing fees, net | 107 | ||||
| Subscriptions | 19 | ||||
| Tips | 62 | ||||
| Service based revenue, net | 121 | ||||
| Transaction based revenue, net | 1 | ||||
| Total | 554 | 347 | 259 | 205 | 122 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Single segment | 196 | 58 | -49 |
| Total | 196 | 58 | -49 |
| $ Mil | 2021 |
|---|---|
| Single segment | 255 |
| Total | 255 |
Price Behavior
Price Behavior
| Market Price | $354.60 | |
| Market Cap ($ Bil) | 4.5 | |
| First Trading Date | 04/26/2021 | |
| Distance from 52W High | -19.9% | |
| 50 Days | 200 Days | |
| DMA Price | $354.80 | $284.46 |
| DMA Trend | down | up |
| Distance from DMA | -0.1% | 24.7% |
| 3M | 1YR | |
| Volatility | 72.6% | 70.1% |
| Downside Capture | 305.06 | 257.36 |
| Upside Capture | 194.76 | 278.01 |
| Correlation (S&P 500) | 35.9% | 45.4% |
DAVE Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.45 | 2.92 | 2.67 | 2.33 | 2.48 | 2.23 |
| Up Beta | -1.50 | 1.50 | 0.75 | 2.80 | 2.99 | 2.24 |
| Down Beta | 4.64 | 1.57 | 2.55 | 1.02 | 1.63 | 1.82 |
| Up Capture | 199% | 308% | 332% | 433% | 631% | 21040% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 22 | 33 | 71 | 136 | 407 |
| Down Capture | 381% | 404% | 322% | 184% | 165% | 111% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 14 | 20 | 31 | 54 | 115 | 340 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DAVE | |
|---|---|---|---|---|
| DAVE | 62.7% | 70.1% | 0.98 | - |
| Sector ETF (XLF) | 8.0% | 14.5% | 0.29 | 41.9% |
| Equity (SPY) | 14.8% | 12.7% | 0.80 | 45.0% |
| Gold (GLD) | -2.8% | 28.5% | -0.11 | 7.9% |
| Commodities (DBC) | 52.1% | 20.7% | 1.91 | -17.7% |
| Real Estate (VNQ) | 4.3% | 13.9% | 0.06 | 21.8% |
| Bitcoin (BTCUSD) | -24.8% | 43.5% | -0.54 | 32.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DAVE | |
|---|---|---|---|---|
| DAVE | 0.2% | 100.2% | 0.45 | - |
| Sector ETF (XLF) | 9.0% | 18.3% | 0.35 | 30.4% |
| Equity (SPY) | 12.7% | 17.1% | 0.56 | 32.5% |
| Gold (GLD) | 17.3% | 18.9% | 0.73 | -0.1% |
| Commodities (DBC) | 9.5% | 19.5% | 0.37 | -0.5% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 21.4% |
| Bitcoin (BTCUSD) | 5.7% | 51.7% | 0.29 | 16.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DAVE | |
|---|---|---|---|---|
| DAVE | 0.4% | 96.4% | 0.44 | - |
| Sector ETF (XLF) | 13.2% | 22.1% | 0.54 | 29.3% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 32.0% |
| Gold (GLD) | 11.8% | 16.4% | 0.59 | -0.0% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | -0.4% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 21.1% |
| Bitcoin (BTCUSD) | 62.4% | 66.2% | 1.02 | 15.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -15.1% | -26.5% | -9.1% |
| 5/5/2026 | -6.6% | -8.2% | -0.8% |
| 3/2/2026 | 4.9% | 11.3% | -12.5% |
| 11/4/2025 | -2.3% | 2.9% | -12.5% |
| 8/6/2025 | -17.9% | -22.7% | -18.1% |
| 5/8/2025 | 41.6% | 70.0% | 105.5% |
| 3/3/2025 | -4.9% | -13.8% | -11.0% |
| 11/12/2024 | 44.0% | 29.8% | 36.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 8 |
| # Negative | 9 | 9 | 11 |
| Median Positive | 13.5% | 8.2% | 19.7% |
| Median Negative | -6.6% | -13.8% | -18.1% |
| Max Positive | 64.4% | 70.0% | 105.5% |
| Max Negative | -17.9% | -38.5% | -52.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -15.1% | -26.5% | -9.1% |
| 5/5/2026 | -6.6% | -8.2% | -0.8% |
| 3/2/2026 | 4.9% | 11.3% | -12.5% |
| 11/4/2025 | -2.3% | 2.9% | -12.5% |
| 8/6/2025 | -17.9% | -22.7% | -18.1% |
| 5/8/2025 | 41.6% | 70.0% | 105.5% |
| 3/3/2025 | -4.9% | -13.8% | -11.0% |
| 11/12/2024 | 44.0% | 29.8% | 36.9% |
| 8/6/2024 | 2.1% | 0.1% | 20.5% |
| 5/7/2024 | 12.4% | 5.2% | -18.9% |
| 3/5/2024 | 64.4% | 53.7% | 71.2% |
| 11/7/2023 | 2.9% | 1.9% | 15.6% |
| 8/8/2023 | 2.7% | 4.9% | 8.2% |
| 5/9/2023 | -2.3% | -3.7% | 18.9% |
| 3/7/2023 | -3.8% | -10.2% | -25.5% |
| 11/10/2022 | 14.7% | -0.7% | 10.2% |
| 8/12/2022 | -11.6% | -14.9% | -27.9% |
| 5/11/2022 | 17.0% | 22.0% | -50.5% |
| 3/21/2022 | -9.8% | -38.5% | -52.8% |
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 8 |
| # Negative | 9 | 9 | 11 |
| Median Positive | 13.5% | 8.2% | 19.7% |
| Median Negative | -6.6% | -13.8% | -18.1% |
| Max Positive | 64.4% | 70.0% | 105.5% |
| Max Negative | -17.9% | -38.5% | -52.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/04/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/05/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/13/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/04/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/05/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/13/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/22/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
| 09/30/2021 | 12/13/2021 | 424B3 |
| 03/31/2021 | 08/22/2022 | 10-Q/A |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 725.00 Mil | 730.00 Mil | 735.00 Mil | 2.1% | Raised | Guidance: 715.00 Mil for 2026 | |
| 2026 Revenue Growth | Reported | 31.0% | 32.0% | 33.0% | 3.0% | Raised | Guidance: 29.0% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 315.00 Mil | 320.00 Mil | 325.00 Mil | 3.2% | Raised | Guidance: 310.00 Mil for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 17 | 17.25 | 17.5 | 4.5% | Raised | Guidance: 16.5 for 2026 | |
Prior: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Year-Over-Year Growth | Reported | 28.0% | 29.0% | 30.0% | 2.5% | Raised | Guidance: 26.5% for 2026 | |
| 2026 GAAP Operating Revenues, Net | Reported | 710.00 Mil | 715.00 Mil | 720.00 Mil | 2.1% | Raised | Guidance: 700.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 305.00 Mil | 310.00 Mil | 315.00 Mil | 4.2% | Raised | Guidance: 297.50 Mil for 2026 | |
| 2026 Adj. Net Income per Diluted Share | Reported | 16.25 | 16.5 | 16.75 | 13.8% | Raised | Guidance: 14.5 for 2026 | |
Q4 2025 Earnings Reported 3/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 690.00 Mil | 700.00 Mil | 710.00 Mil | 28.3% | Higher New | Actual: 545.50 Mil for 2025 | |
| 2026 Revenue Growth | Reported | 25.0% | 26.5% | 28.0% | -31.0% | Lower New | Actual: 57.5% for 2025 | |
| 2026 Adjusted EBITDA | Reported | 290.00 Mil | 297.50 Mil | 305.00 Mil | 37.4% | Higher New | Actual: 216.50 Mil for 2025 | |
| 2026 Adjusted EPS | Reported | 14 | 14.5 | 15 | ||||
| 2026 Share Repurchases | Reported | 300.00 Mil | ||||||
Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 544.00 Mil | 545.50 Mil | 547.00 Mil | 7.0% | Raised | Guidance: 510.00 Mil for 2025 | |
| 2025 Revenue Growth | Reported | 57.0% | 57.5% | 58.0% | 10.5% | Raised | Guidance: 47.0% for 2025 | |
| 2025 Adjusted EBITDA | Reported | 215.00 Mil | 216.50 Mil | 218.00 Mil | 17.0% | Raised | Guidance: 185.00 Mil for 2025 | |
| 2025 Adjusted EBITDA Growth | Reported | 149.0% | 150.5% | 152.0% | 36.5% | Raised | Guidance: 114.0% for 2025 | |
Insider Activity
Updated 9/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Preston, Dan | Direct | Sell | 6082026 | 259.83 | 275 | 71,453 | 1,348,778 | Form | |
| 2 | Preston, Dan | Direct | Sell | 6082026 | 247.65 | 275 | 68,104 | 1,353,655 | Form | |
| 3 | Beilman, Kyle | CFO and COO and Secretary | Direct | Sell | 6042026 | 275.03 | 4,122 | 1,133,659 | 53,947,825 | Form |
| 4 | Wilk, Jason | Chief Executive Officer | Direct | Sell | 6042026 | 275.05 | 8,474 | 2,330,793 | 82,501,941 | Form |
| 5 | Mitchell, Andrea | Direct | Sell | 3062026 | 210.94 | 15,000 | 3,164,081 | 1,373,000 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Preston, Dan | Direct | Sell | 6082026 | 259.83 | 275 | 71,453 | 1,348,778 | Form | |
| 2 | Preston, Dan | Direct | Sell | 6082026 | 247.65 | 275 | 68,104 | 1,353,655 | Form | |
| 3 | Beilman, Kyle | CFO and COO and Secretary | Direct | Sell | 6042026 | 275.03 | 4,122 | 1,133,659 | 53,947,825 | Form |
| 4 | Wilk, Jason | Chief Executive Officer | Direct | Sell | 6042026 | 275.05 | 8,474 | 2,330,793 | 82,501,941 | Form |
| 5 | Mitchell, Andrea | Direct | Sell | 3062026 | 210.94 | 15,000 | 3,164,081 | 1,373,000 | Form | |
| 6 | Mitchell, Andrea | Direct | Sell | 3062026 | 215.12 | 15,000 | 3,226,819 | 4,627,044 | Form | |
| 7 | Pope, Michael W | Direct | Sell | 2042026 | 162.00 | 544 | 88,128 | 944,622 | Form | |
| 8 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 12192025 | 204.00 | 1,146 | Form | |||
| 9 | Khan, Imran | Proem Investments Master Fund LP | Sell | 12192025 | 201.64 | 2,144 | Form | |||
| 10 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 12192025 | 198.77 | 964 | 191,613 | 227,789 | Form | |
| 11 | Khan, Imran | Proem Investments Master Fund LP | Sell | 12192025 | 199.34 | 16,645 | 3,318,064 | 427,391 | Form | |
| 12 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 12192025 | 199.33 | 16,625 | 3,313,859 | 420,586 | Form | |
| 13 | Khan, Imran | Proem Investments Master Fund LP | Sell | 12172025 | 198.51 | 4,097 | 813,305 | 3,729,850 | Form | |
| 14 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 12172025 | 196.51 | 14,738 | 2,896,102 | 3,681,535 | Form | |
| 15 | Khan, Imran | Proem Investments Master Fund LP | Sell | 12172025 | 195.68 | 10,577 | 2,069,720 | 4,478,359 | Form | |
| 16 | Khan, Imran | Proem Investments Master Fund LP | Sell | 12172025 | 192.17 | 15,423 | 2,963,853 | 6,430,616 | Form | |
| 17 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 12172025 | 192.17 | 15,412 | 2,961,760 | 6,432,586 | Form | |
| 18 | Beilman, Kyle | CFO and COO and Secretary | Direct | Sell | 12032025 | 203.77 | 3,495 | 712,176 | 30,678,796 | Form |
| 19 | Wilk, Jason | Chief Executive Officer | Direct | Sell | 12032025 | 203.77 | 7,393 | 1,506,472 | 42,885,638 | Form |
| 20 | Beilman, Kyle | CFO and COO and Secretary | Direct | Sell | 9222025 | 230.07 | 59,541 | 13,698,378 | 35,441,946 | Form |
| 21 | Wilk, Jason | Chief Executive Officer | Direct | Sell | 9222025 | 230.28 | 81,693 | 18,812,564 | 50,168,219 | Form |
| 22 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 9172025 | 217.70 | 8,535 | 1,858,043 | 10,642,110 | Form | |
| 23 | Khan, Imran | Proem Investments Master Fund LP | Sell | 9172025 | 217.33 | 9,879 | 2,147,025 | 10,624,501 | Form | |
| 24 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 9172025 | 214.42 | 1,270 | 272,318 | 12,312,191 | Form | |
| 25 | Khan, Imran | Proem Investments Master Fund LP | Sell | 9172025 | 215.22 | 8,996 | 1,936,089 | 12,647,205 | Form | |
| 26 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 9172025 | 212.60 | 20,420 | 4,341,313 | 12,477,553 | Form | |
| 27 | Khan, Imran | Proem Investments Master Fund LP | Sell | 9172025 | 210.54 | 11,366 | 2,393,025 | 14,266,563 | Form | |
| 28 | Khan, Imran | Proem Investments Master Fund LP | Sell | 9172025 | 223.16 | 19,759 | 4,409,351 | 17,657,710 | Form | |
| 29 | Khan, Imran | Proem Special Situations Fund I, LP | Sell | 9172025 | 223.10 | 19,775 | 4,411,836 | 17,649,574 | Form | |
| 30 | Beilman, Kyle | CFO and COO and Secretary | Direct | Sell | 9162025 | 230.00 | 1,140 | 262,200 | 49,126,160 | Form |
| 31 | Wilk, Jason | Chief Executive Officer | Direct | Sell | 9162025 | 230.01 | 2,948 | 678,069 | 50,108,599 | Form |
| 32 | Beilman, Kyle | CFO and COO and Secretary | Direct | Sell | 9162025 | 230.02 | 9,319 | 2,143,556 | 49,392,655 | Form |
| 33 | Wilk, Jason | Chief Executive Officer | Direct | Sell | 9162025 | 230.01 | 15,359 | 3,532,724 | 50,108,599 | Form |
| 34 | Rozov, Yadin | Direct | Sell | 9122025 | 228.06 | 4,726 | 1,077,816 | 17,149,501 | Form | |
| 35 | Wilk, Jason | Chief Executive Officer | Direct | Sell | 9052025 | 199.40 | 7,557 | 1,506,894 | 43,440,912 | Form |
| 36 | Rozov, Yadin | Direct | Sell | 9052025 | 199.54 | 14,660 | 2,925,322 | 15,948,192 | Form | |
| 37 | Beilman, Kyle | CFO and COO and Secretary | Direct | Sell | 9052025 | 199.43 | 3,571 | 712,157 | 44,682,017 | Form |
Investor Activity (13F)
Updated Oct 26, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Consumer Finance Resources |
| Consumer Financial Protection Bureau (CFPB) |
| InsideARM |
| The Nilson Report |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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