Dave Stock Soars 150% in a Year as Newly Disclosed $7 Million Buy Signals Confidence in Fintech Upstart

By Jonathan Ponciano – Mar 12, 2026 at 10:47AM ESTKey PointsFindell Capital Management LLC added 32,000 shares of Dave in the fourth quarter; the estimated trade value is $6.88 million.The quarter-end value of the Dave stake increased by $7.92 million, reflecting both the additional shares and price appreciation during the quarter.After the trade, the fund holds 70,000 Dave shares valued at $15.50 million.On February 17, 2026, Findell Capital Management disclosed a buy of 32,000 shares of Dave (DAVE 1.80%) in the fourth quarter, with the estimated transaction value at $6.88 million based on the quarterly average price.What happenedAccording to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Findell Capital Management increased its position in Dave (DAVE 1.80%) by 32,000 shares. The estimated transaction value was $6.88 million based on the mean unadjusted close for the quarter ended December 31, 2025. Meanwhile, the fund’s quarter-end valuation for its Dave stake rose by $7.92 million, a figure that includes both share purchases and price movements.What else to knowDave accounts for 4.9% of Findell Capital Management LLC’s reportable equity AUM as of December 31, 2025.Top holdings after the filing:NASDAQ: LQDA: $98.35 million (32.7% of AUM)NASDAQ: ESTA: $82.39 million (27.4% of AUM)NASDAQ: ROOT: $16.97 million (5.6% of AUM)NASDAQ: DAVE: $15.50 million (4.9% of AUM)NYSE: TPB: $13.77 million (4.6% of AUM)As of Thursday, shares of Dave have surged about 150% over the past year to $218.56, far outperforming the S&P 500’s roughly 21% gain in the same period.Company overviewMetricValueRevenue (TTM)$554.2 millionNet income (TTM)$195.9 millionPrice (as of Thursday)$218.56Company snapshotDave provides digital banking services, including personal financial management tools, overdraft alternatives, and a job application portal.The company operates a technology-driven financial platform focused on accessible banking and personal finance solutions.It emphasizes a digital-first strategy to serve customers seeking alternatives to conventional banking, with a focus on transparency and user empowerment.Dave leverages its digital platform to deliver a suite of financial products aimed at users who want more control and flexibility than traditional banks offer. Its business model centers on technology-enabled services that address everyday financial needs.What this transaction means for investorsIt’s been a rough year for many fintechs, but Dave has managed to buck the trend. While the Global X FinTech ETF (which does not count Dave as a holding) has fallen about 5% over the past year, Dave has instead skyrocketed 150%. The digital banking platform has been scaling rapidly, with revenue climbing 60% to $554.2 million in 2025 while net income jumped to $195.9 million. The momentum carried into the fourth quarter, with revenue rising 62% year over year to $163.7 million, and adjusted EBITDA climbing 118% to $72.9 million.Operationally, the company is also showing signs of improving economics. Monthly transacting members reached 2.93 million, while its ExtraCash lending product generated $2.2 billion in originations during the quarter. Plus, customer acquisition costs remained relatively low at roughly $20 per new member, suggesting the platform can still grow efficiently.Against that backdrop, the position now represents roughly 4.9% of the fund’s equity portfolio, placing Dave among its larger holdings but still well below its biggest bets in Liquidia and Establishment Labs. In other words, that sizing does seem to reflect conviction, though not overconcentration.About the AuthorJonathan Ponciano is a contributing stock market analyst at The Motley Fool. He has nearly a decade of experience as a financial journalist, most recently as an editor and senior reporter at Forbes focused on markets, technology, and entrepreneurship. Jonathan has also written for Investopedia and the Los Angeles Business Journal. He holds a dual B.A. in Business Journalism and Economics from the University of North Carolina at Chapel Hill and an M.B.A. from Columbia Business School. A North Carolina native now based in New York City, Jonathan has also lived in Mexico City and Los Angeles.CMFjonponcStocks MentionedDaveNASDAQ: DAVE$219.28(-1.80%)-$4.03*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.