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

DeFi Development Corp. (NASDAQ:DFDV) insider Daniel Kang purchased 6,900 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were bought at an average price of $8.84 per share, with a total value of $60,996.00. Following the purchase, the insider directly owned 6,900 shares of the company’s stock, valued at approximately $60,996. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 acquired 11,000 shares of DeFi Development stock. The stock was purchased at an average cost of $3.88 per share, for a total transaction of $42,680.00.
• On Friday, August 14th, Daniel Kang acquired 13,000 shares of DeFi Development stock. The shares were purchased at an average price of $2.91 per share, with a total value of $37,830.00.

DeFi Development Stock Performance

Shares of DFDV stock traded down $0.51 during mid-day trading on Wednesday, hitting $5.77. The stock had a trading volume of 2,019,822 shares, compared to its average volume of 2,495,100. DeFi Development Corp. has a fifty-two week low of $2.44 and a fifty-two week high of $18.28. The firm has a market cap of $178.86 million, a PE ratio of -0.58 and a beta of -3.75. The company has a debt-to-equity ratio of 12.53, a current ratio of 1.27 and a quick ratio of 1.27. The company’s 50-day simple moving average is $4.05 and its 200-day simple moving average is $3.87.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of DeFi Development during the 4th quarter worth approximately $47,000. BlueChip Wealth Advisors LLC acquired a new stake in DeFi Development during the 1st quarter valued at $58,000. Squarepoint Ops LLC acquired a new stake in DeFi Development during the 2nd quarter valued at $52,000. Headlands Technologies LLC increased its position in 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. Finally, NewEdge Advisors LLC increased its position in DeFi Development by 36.2% during the second quarter. NewEdge Advisors LLC now owns 113,612 shares of the company’s stock worth $334,000 after buying an additional 30,180 shares in the last quarter. Hedge funds and other institutional investors own 0.48% of the company’s stock.

Analysts Set New Price Targets

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