Insider Buying: DeFi Development (NASDAQ:DFDV) Major Shareholder Acquires $84,779.52 in Stock

DeFi Development Corp. (NASDAQ:DFDV) major shareholder Parker White bought 9,462 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was bought at an average price of $8.96 per share, for a total transaction of $84,779.52. Following the acquisition, the insider directly owned 9,462 shares of the company’s stock, valued at $84,779.52. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Parker White also recently made the following trade(s):

• On Friday, September 25th, Parker White bought 538 shares of DeFi Development stock. The stock was purchased at an average cost of $8.90 per share, for a total transaction of $4,788.20.
• On Friday, August 21st, Parker White acquired 10,069 shares of DeFi Development stock. The stock was acquired at an average price of $3.91 per share, for a total transaction of $39,369.79.

DeFi Development Stock Performance

NASDAQ DFDV traded up $0.17 during trading hours on Friday, hitting $5.96. 2,067,742 shares of the company’s stock traded hands, compared to its average volume of 1,289,215. DeFi Development Corp. has a 52 week low of $2.44 and a 52 week high of $18.28. The firm has a market capitalization of $184.60 million, a P/E ratio of -0.60 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 business’s fifty day moving average price is $4.10 and its two-hundred day moving average price is $3.88.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on DFDV. Weiss Ratings downgraded DeFi Development from a “hold (c)” rating to a “sell (d-)” rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.40 price target (up from $4.70) on shares of DeFi Development in a report on Thursday, September 10th. Finally, 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. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, DeFi Development has an average rating of “Hold” and an average price target of $10.40.

Hedge Funds Weigh In On DeFi Development

A number of hedge funds and other institutional investors have recently modified their holdings of DFDV. BlackRock Inc. bought a new stake in DeFi Development in the 2nd quarter valued at $1,067,000. DeepCurrents Investment Group LLC grew its position in shares of DeFi Development by 1,065.0% during the fourth quarter. DeepCurrents Investment Group LLC now owns 117,200 shares of the company’s stock valued at $592,000 after purchasing an additional 107,140 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of DeFi Development by 36.2% during the second quarter. NewEdge Advisors LLC now owns 113,612 shares of the company’s stock valued at $334,000 after purchasing an additional 30,180 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of DeFi Development by 55.7% in the second quarter. Headlands Technologies LLC now owns 78,245 shares of the company’s stock worth $230,000 after purchasing an additional 27,988 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of DeFi Development in the second quarter worth about $138,000. Institutional investors own 0.48% of the company’s stock.

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.