DeFi Development (NASDAQ:DFDV) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of DeFi Development (NASDAQ:DFDV) from a hold rating to a sell rating in a research report released on Saturday morning.

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

DeFi Development Trading Up 8.6%

Shares of NASDAQ DFDV opened at $7.95 on Friday. The firm has a market capitalization of $253.29 million, a PE ratio of 3.13 and a beta of -7.00. DeFi Development has a one year low of $0.53 and a one year high of $53.88. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $6.49 and a two-hundred day moving average price of $13.08.

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

DeFi Development announced that its Board of Directors has authorized a share 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 generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, COO Parker White acquired 17,760 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was purchased at an average cost of $5.76 per share, with a total value of $102,297.60. Following the acquisition, the chief operating officer owned 269,875 shares of the company’s stock, valued at approximately $1,554,480. This trade represents a 7.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Kang bought 4,200 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $6.90 per share, for a total transaction 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 represents a 140.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 32,004 shares of company stock worth $200,682. Company insiders own 19.24% of the company’s stock.

Institutional Investors Weigh In On DeFi Development

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

DeFi Development Company Profile

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.