DeFi Development (NASDAQ:DFDV) Stock: Insider Daniel Kang Purchases 6,900 Shares

DeFi Development Corp. (NASDAQ:DFDV) insider Daniel Kang acquired 6,900 shares of DeFi Development stock in a transaction that occurred on Tuesday, September 22nd. The stock was acquired at an average cost 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 $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 purchased 3,540 shares of DeFi Development stock. The stock was bought at an average price of $8.81 per share, for a total transaction 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 cost of $3.88 per share, with a total value of $42,680.00.
• On Friday, August 14th, Daniel Kang acquired 13,000 shares of DeFi Development stock. The shares were bought at an average cost of $2.91 per share, for a total transaction of $37,830.00.

DeFi Development Price Performance

DFDV opened at $5.79 on Friday. The business’s 50-day moving average is $4.10 and its two-hundred day moving average is $3.88. DeFi Development Corp. has a 1 year low of $2.44 and a 1 year high of $18.28. 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 firm has a market capitalization of $179.49 million, a PE ratio of -0.58 and a beta of -3.75.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised DeFi Development from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Weiss Ratings downgraded DeFi Development from a “hold (c)” rating to a “sell (d-)” rating in a research note on Tuesday. Finally, Cantor Fitzgerald restated 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 equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.40.

Institutional Investors Weigh In On DeFi Development

Several hedge funds have recently added to or reduced their stakes in DFDV. Caitong International Asset Management Co. Ltd purchased a new position in shares of DeFi Development during the 4th quarter valued at about $47,000. BlueChip Wealth Advisors LLC purchased a new stake in shares of DeFi Development in the first quarter worth about $58,000. Squarepoint Ops LLC purchased a new stake in shares of DeFi Development in the second quarter worth about $52,000. Aristides Capital LLC acquired a new stake in DeFi Development during the fourth quarter worth about $187,000. Finally, Bank of New York Mellon Corp purchased a new position in DeFi Development during the first quarter valued at approximately $145,000. 0.48% of the stock is owned by hedge funds and other institutional investors.

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.