DeFi Development (NASDAQ:DFDV) Trading 4.7% Higher – Still a Buy?

DeFi Development Corp. (NASDAQ:DFDV) was up 4.7% during trading on Monday . The company traded as high as $7.22 and last traded at $7.15. Approximately 1,878,253 shares changed hands during trading, an increase of 9% from the average daily volume of 1,730,723 shares. The stock had previously closed at $6.83.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DFDV shares. Wall Street Zen raised shares of DeFi Development from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DeFi Development in a report on Wednesday, October 8th. One research 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. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $35.00.

DeFi Development Price Performance

The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average price is $6.55 and its 200 day moving average price is $13.53. The stock has a market cap of $227.80 million, a PE ratio of 2.81 and a beta of -7.00.

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

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

Insider Transactions at DeFi Development

In other news, COO Parker White acquired 17,760 shares of DeFi Development stock in a transaction on Wednesday, December 10th. The shares were acquired at an average price of $5.76 per share, with a total value of $102,297.60. Following the purchase, the chief operating officer directly owned 269,875 shares in the company, valued at $1,554,480. The trade was a 7.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Kang bought 4,200 shares of the stock in a transaction dated Tuesday, November 25th. The shares were purchased at an average price of $6.90 per share, with a total value of $28,980.00. Following the completion of the transaction, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 32,004 shares of company stock worth $200,682 over the last quarter. 19.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On DeFi Development

Several institutional investors have recently modified their holdings of DFDV. Pantera Capital Partners LP purchased a new position in shares of DeFi Development in the 3rd quarter worth approximately $13,207,000. Alyeska Investment Group L.P. bought a new stake in DeFi Development in the third quarter worth $9,489,000. Polar Asset Management Partners Inc. purchased a new position in DeFi Development during the third quarter worth $6,379,000. Millennium Management LLC bought a new position in DeFi Development during the third quarter valued at $1,982,000. Finally, Lauer Wealth LLC bought a new position in DeFi Development during the fourth quarter valued at $306,000. 0.48% of the stock is owned by institutional investors.

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.