Insider Stock Sales and Ratings Downgrade Raise Questions About Dave's (DAVE) Investment Narrative

Dave, a digital banking platform, faced pressure after insiders sold $91.3 million of stock and Weiss Ratings shifted its view from a buy to a hold rating. The insider selling and ratings downgrade raised questions about the company's longer-term ambitions and may affect its investment narrative and future growth expectations. The Q3 2025 earnings release showed higher revenue and net income, but the company still faces the risk of tighter regulation on fee-based, small-dollar credit.