DeFi Development (NASDAQ:DFDV) Insider Buys $28,980.00 in Stock

DeFi Development Corp. (NASDAQ:DFDV) insider Daniel Kang acquired 4,200 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was purchased at an average price of $6.90 per share, with a total value of $28,980.00. Following the purchase, the insider owned 7,181 shares in the company, valued at approximately $49,548.90. The trade was a 140.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

DeFi Development Price Performance

Shares of NASDAQ DFDV traded up $0.04 during midday trading on Tuesday, reaching $7.00. The company’s stock had a trading volume of 718,754 shares, compared to its average volume of 1,746,603. The firm has a market cap of $210.84 million, a PE ratio of 2.75 and a beta of -7.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50 day moving average price of $12.58. DeFi Development Corp. has a 12-month low of $0.53 and a 12-month high of $53.88.

DeFi Development (NASDAQ:DFDV) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $1.88 EPS for the quarter. The business had revenue of $1.86 million for the quarter.

DeFi Development announced that its board has approved a share buyback program on Wednesday, September 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 25.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

DFDV has been the subject of several research reports. Wall Street Zen lowered shares of DeFi Development from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Craig Hallum started coverage on shares of DeFi Development in a report on Monday, August 4th. They issued a “buy” rating and a $25.00 price objective for the company. Cantor Fitzgerald raised shares of DeFi Development to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of DeFi Development in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, DeFi Development presently has an average rating of “Buy” and a consensus price target of $35.00.

Institutional Trading of DeFi Development

Several hedge funds and other institutional investors have recently bought and sold shares of DFDV. Bank of America Corp DE bought a new position in DeFi Development during the third quarter valued at approximately $66,000. Centiva Capital LP purchased a new stake in shares of DeFi Development in the 3rd quarter valued at $469,000. NewEdge Advisors LLC purchased a new stake in shares of DeFi Development in the 3rd quarter valued at $478,000. UBS Group AG bought a new position in shares of DeFi Development during the 3rd quarter valued at $693,000. Finally, Millennium Management LLC purchased a new position in DeFi Development in the 3rd quarter worth $1,982,000. Hedge funds and other institutional investors own 0.48% of the company’s stock.

About DeFi Development

We are a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. We seek to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few. Through our online platform, we provide technology that connects commercial mortgage borrowers looking for capital to refinance, build, or purchase commercial property, including, but not limited to, apartment buildings, to commercial property lenders.