Prospect Capital Bets Heavily on Dave Stock With a 23,K Shares
Key Points
Prospect Capital added 23,455 shares of Dave Inc; position value up $3.42 million quarter-over-quarter
Transaction equates to 1.9372% of reportable 13F assets under management
Post-trade holding: 40,000 shares, valued at approximately $8.30 million
Stake now accounts for approximately 3.17% of fund AUM, which places it outside the fund's top five holdings
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What happened
According to a November 14, 2025, filing with the Securities and Exchange Commission (SEC), Prospect Capital Advisors, LLC increased its position in Dave Inc. (NASDAQ:DAVE) by 23,455 shares during the third quarter. The firm’s total position reached 40,000 shares, representing a reported market value of $7,974,000 as of Sept. 30, 2025.
What else to know
- The fund bought Dave Inc., and the stake represented 3.05% of reportable 13F assets under management as of Sept. 30, 2025.
- Top five positions after the filing:
- NYSE: RSI: $24.02 million (9.2% of AUM)
- NASDAQ: IDCC: $20.07 million (7.7% of AUM)
- NYSE: TPB: $18.15 million (6.9% of AUM)
- NYSE: ARLO: $17.80 million (6.8% of AUM)
- NYSE: PJT: $17.69 million (6.8% of AUM)
- As of Nov. 14, 2025, shares of Dave Inc. were priced at $205.30, up 156.75% over the past year, outperforming the S&P 500 by 114.52 percentage points
- Five-year revenue compound annual growth rate is 35.41%; the latest trailing twelve months revenue was $347.08 million, with net income of $57.87 million
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-14) | $205.30 |
| Market Capitalization | $2.77 billion |
| Revenue (TTM) | $347.08 million |
| Net Income (TTM) | $57.87 million |
Company Snapshot
- Dave, Inc. offers digital banking services, including checking accounts, personal finance tools, and short-term credit solutions such as ExtraCash and overdraft alternatives.
- Operates a technology-driven platform that delivers financial products and services online, focusing on automation and user experience.
- Serves individual consumers in the United States seeking accessible, digital-first financial management and banking solutions.
Dave Inc. leverages its digital platform to simplify money management and provide alternatives to traditional overdraft and credit products. Its business model centers on delivering financial services directly to consumers through technology and innovation.
Foolish take
Shares of Dave have exploded by about 1,790% over the past three years. Despite the big run-up up Prospect Capital appears to expect further gains. Its bet on Dave during the third quarter was the fourth-largest portfolio addition it reported during the period.
Dave stock has been on the rise due to sales that keep defying gravity. The company reported third-quarter revenue that soared by 63% year over year to $150.8 million. It was the second consecutive quarter that the company reported sales that grew more than 60% year over year.
Dave has been delivering on its bottom line, too. In the third quarter, net income reached a new record of $92 million on a GAAP basis. On an adjusted basis, third-quarter net income surged by 193% to $61.6 million.
In September, Dave introduced CashAI v5.5, the latest advancement in its AI-driven, cash flow underwriting engine. The improvements in credit performance are expected to be reflected in the results it reports going forward.
Glossary
13F assets under management: The total value of securities a fund must report quarterly to the SEC on Form 13F.
Net position increase: The rise in the number or value of shares held in a particular investment after recent transactions.
Quarter-over-quarter: A comparison between one fiscal quarter and the previous quarter.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
Stake: The proportion or amount of ownership an investor or fund holds in a company.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Compound annual growth rate (CAGR): The average annual growth rate of an investment over a specified period, assuming profits are reinvested.
Outperforming: Achieving better returns or growth compared to a benchmark or index.
Overdraft alternatives: Financial products designed to help customers avoid traditional bank overdraft fees.
Personal finance tools: Digital resources that help individuals manage budgets, track spending, and plan finances.
Short-term credit solutions: Financial products offering quick access to borrowed funds, typically repaid within a short period.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends PJT Partners. The Motley Fool recommends Turning Point Brands. The Motley Fool has a disclosure policy.
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