DeFi Development (NASDAQ:DFDV) Insider Acquires $60,996.00 in Stock

DeFi Development Corp. (NASDAQ:DFDV) insider Daniel Kang bought 6,900 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was bought at an average cost of $8.84 per share, for a total transaction of $60,996.00. Following the transaction, the insider owned 6,900 shares of the company’s stock, valued at $60,996. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Daniel Kang also recently made the following trade(s):

• On Tuesday, September 22nd, Daniel Kang purchased 3,540 shares of DeFi Development stock. The shares were bought at an average cost of $8.81 per share, with a total value of $31,187.40.
• On Thursday, August 20th, Daniel Kang purchased 11,000 shares of DeFi Development stock. The stock was bought at an average price of $3.88 per share, with a total value of $42,680.00.
• On Friday, August 14th, Daniel Kang bought 13,000 shares of DeFi Development stock. The stock was purchased at an average cost of $2.91 per share, with a total value of $37,830.00.

DeFi Development Price Performance

Shares of DFDV opened at $6.04 on Friday. The company has a market cap of $187.24 million, a price-to-earnings ratio of -0.61 and a beta of -3.75. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 12.53. The company’s fifty day simple moving average is $4.17 and its 200 day simple moving average is $3.90. DeFi Development Corp. has a 1-year low of $2.44 and a 1-year high of $18.28.

DeFi Development (NASDAQ:DFDV) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter. The firm had revenue of $3.31 million during the quarter. DeFi Development had a negative net margin of 1,319.45% and a positive return on equity of 17.97%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of DeFi Development in the 2nd quarter valued at $1,067,000. NewEdge Advisors LLC increased its position in DeFi Development by 62.3% during the 1st quarter. NewEdge Advisors LLC now owns 83,432 shares of the company’s stock worth $274,000 after purchasing an additional 32,024 shares in the last quarter. Squarepoint Ops LLC bought a new position in DeFi Development in the 2nd quarter valued at approximately $52,000. Bank of New York Mellon Corp bought a new stake in shares of DeFi Development during the second quarter worth $138,000. Finally, Headlands Technologies LLC increased its holdings in shares of DeFi Development by 55.7% during the second quarter. Headlands Technologies LLC now owns 78,245 shares of the company’s stock worth $230,000 after buying an additional 27,988 shares in the last quarter. 0.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DFDV shares. Wall Street Zen upgraded DeFi Development from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.40 price objective (up from $4.70) on shares of DeFi Development in a research report on Thursday, September 10th. Finally, Weiss Ratings downgraded shares of DeFi Development from a “hold (c)” rating to a “sell (d-)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.40.

About DeFi Development

DeFi Development Corp. (NASDAQ:DFDV) is a digital-asset and blockchain-focused company centered on the Solana ecosystem. Its principal strategy is to build and manage a Solana treasury while participating in the network through activities such as staking, validator operations and other infrastructure initiatives.

The company may also pursue investments, partnerships and acquisitions involving decentralized finance, blockchain infrastructure and applications built on Solana. Through these activities, DeFi Development seeks to support the network’s growth while generating potential utility from its digital-asset holdings and related operating capabilities.

The company was formerly known as Janover Inc, a technology business that provided a platform for commercial real estate finance.