Daniel Kang Buys 6,900 Shares of DeFi Development (NASDAQ:DFDV) Stock

DeFi Development Corp. (NASDAQ:DFDV) insider Daniel Kang purchased 6,900 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average price of $8.84 per share, with a total value of $60,996.00. Following the purchase, the insider owned 6,900 shares of the company’s stock, valued at approximately $60,996. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 22nd, Daniel Kang bought 3,540 shares of DeFi Development stock. The shares were purchased at an average price of $8.81 per share, for a total transaction 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 price of $3.88 per share, for a total transaction of $42,680.00.
• On Friday, August 14th, Daniel Kang bought 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 Down 8.1%

NASDAQ:DFDV traded down $0.51 during trading hours on Wednesday, hitting $5.77. The company’s stock had a trading volume of 2,019,822 shares, compared to its average volume of 2,495,100. The stock has a market capitalization of $178.86 million, a P/E ratio of -0.58 and a beta of -3.75. The stock has a fifty day moving average of $4.05 and a 200-day moving average of $3.87. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 12.53. DeFi Development Corp. has a 52-week low of $2.44 and a 52-week high of $18.28.

DeFi Development (NASDAQ:DFDV) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (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 business had revenue of $3.31 million for the quarter.

Analyst Ratings Changes

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

Institutional Trading of DeFi Development

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in DeFi Development during the 2nd quarter worth $1,067,000. DeepCurrents Investment Group LLC raised its holdings in shares of DeFi Development by 1,065.0% in the fourth quarter. DeepCurrents Investment Group LLC now owns 117,200 shares of the company’s stock valued at $592,000 after buying an additional 107,140 shares during the last quarter. NewEdge Advisors LLC boosted its stake 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 worth $334,000 after buying an additional 30,180 shares during the period. Headlands Technologies LLC boosted its stake 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 during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of DeFi Development during the second quarter worth about $138,000. Hedge funds and other institutional investors own 0.48% of the company’s stock.

DeFi Development Company Profile

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.