Key Points
- COO Parker White bought 10,044 shares on Nov. 25 at an average of $6.91, raising his stake by 4.15% to 252,115 shares valued at about $1.74 million, with the trade disclosed in an SEC filing.
- The company's Board authorized a $100.0 million stock repurchase program on Sept. 24, allowing buybacks of up to 25.9% of outstanding shares, a signal the board may view the stock as undervalued.
- DFDV has a market cap of $210.8 million, a P/E of 2.75, opened at $7.00 (50-day avg $12.58) and reported last-quarter EPS of $1.88 on $1.86 million revenue, while institutional ownership remains low at 0.48%.
DeFi Development Corp. (NASDAQ:DFDV - Get Free Report) insider Daniel Kang purchased 4,200 shares of the business's stock in a transaction on Tuesday, November 25th. The shares were acquired 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 in the company, valued at approximately $49,548.90. The trade was a 140.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
DeFi Development Price Performance
NASDAQ:DFDV opened at $7.00 on Wednesday. The firm has a market capitalization of $210.84 million, a P/E ratio of 2.75 and a beta of -7.77. The company has a fifty day moving average of $12.58. DeFi Development Corp. has a one year low of $0.53 and a one year high of $53.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.77 and a current ratio of 1.77.
DeFi Development (NASDAQ:DFDV - Get Free Report) last announced its earnings results on Tuesday, November 18th. The company reported $1.88 EPS for the quarter. The company had revenue of $1.86 million for the quarter.
DeFi Development declared that its board has approved a stock repurchase plan on Wednesday, September 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 25.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.
Institutional Investors Weigh In On DeFi Development
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE bought a new position in DeFi Development in the 3rd quarter valued at about $66,000. Centiva Capital LP acquired a new stake in shares of DeFi Development during the 3rd quarter worth approximately $469,000. NewEdge Advisors LLC bought a new position in DeFi Development in the third quarter valued at approximately $478,000. UBS Group AG bought a new position in DeFi Development in the third quarter valued at approximately $693,000. Finally, Millennium Management LLC acquired a new position in DeFi Development during the third quarter valued at approximately $1,982,000. Institutional investors own 0.48% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of DeFi Development in a report on Wednesday, October 8th. Wall Street Zen cut DeFi Development from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Craig Hallum assumed coverage on shares of DeFi Development in a research report on Monday, August 4th. They issued a "buy" rating and a $25.00 target price for the company. Finally, Cantor Fitzgerald raised shares of DeFi Development to a "strong-buy" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, DeFi Development presently has a consensus rating of "Buy" and an average target price of $35.00.
Get Our Latest Stock Analysis on DFDV
About DeFi Development
(
Get Free Report)
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.
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