DeFi Development (NASDAQ:DFDV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DeFi Development (NASDAQ:DFDV) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of DeFi Development in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $35.00.

DeFi Development Trading Down 6.7%

Shares of DFDV stock opened at $5.19 on Friday. DeFi Development has a 52-week low of $0.53 and a 52-week high of $53.88. The stock has a market cap of $156.34 million, a price-to-earnings ratio of 2.04 and a beta of -7.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a fifty day moving average of $9.91 and a 200-day moving average of $16.05.

DeFi Development (NASDAQ:DFDV) last issued its earnings results on Wednesday, November 19th. The company reported $1.88 earnings per share for the quarter. The business had revenue of $1.86 million for the quarter.

DeFi Development announced that its board has authorized a stock buyback program on Wednesday, September 24th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 25.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other DeFi Development news, insider Daniel Kang purchased 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average cost of $6.90 per share, with a total value of $28,980.00. Following the acquisition, the insider directly owned 7,181 shares of the company’s stock, valued at approximately $49,548.90. This trade represents a 140.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO Parker White acquired 17,760 shares of DeFi Development stock in a transaction on Wednesday, December 10th. The stock was acquired at an average cost of $5.76 per share, for a total transaction of $102,297.60. Following the purchase, the chief operating officer owned 269,875 shares of the company’s stock, valued at approximately $1,554,480. This represents a 7.04% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 32,004 shares of company stock valued at $200,682 in the last quarter. 19.24% of the stock is currently owned by corporate insiders.

Institutional Trading of DeFi Development

A number of hedge funds and other institutional investors have recently made changes to their positions in DFDV. Pantera Capital Partners LP acquired a new position in DeFi Development during the 3rd quarter worth about $13,207,000. Alyeska Investment Group L.P. bought a new position in shares of DeFi Development in the third quarter worth about $9,489,000. Polar Asset Management Partners Inc. acquired a new position in shares of DeFi Development during the third quarter worth approximately $6,379,000. Millennium Management LLC acquired a new position in shares of DeFi Development during the third quarter worth approximately $1,982,000. Finally, UBS Group AG bought a new stake in shares of DeFi Development during the third quarter valued at approximately $693,000. 0.48% of the stock is currently owned by institutional investors and hedge funds.

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.