BlackRock Inc. Invests $1.07 Million in DeFi Development Corp. $DFDV

Key Points

• BlackRock acquired 362,876 shares of DeFi Development Corp. in the second quarter, valued at approximately $1.07 million and representing about 1.2% of the company.
• Analyst sentiment is cautiously positive, with a consensus “Moderate Buy” rating, though Cantor Fitzgerald lowered its price target from $7.00 to $4.70.
• DeFi Development reported a quarterly loss of $0.21 per share on $3.31 million in revenue, while insiders bought 34,069 shares worth roughly $119,880 over the past three months.

BlackRock Inc. acquired a new position in DeFi Development Corp. (NASDAQ:DFDV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 362,876 shares of the company's stock, valued at approximately $1,067,000. BlackRock Inc. owned about 1.20% of DeFi Development as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in DeFi Development during the second quarter valued at about $138,000. NewEdge Advisors LLC boosted its position in DeFi Development by 62.3% during the first quarter. NewEdge Advisors LLC now owns 83,432 shares of the company's stock worth $274,000 after purchasing an additional 32,024 shares during the period. BlueChip Wealth Advisors LLC purchased a new position in shares of DeFi Development in the first quarter worth about $58,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of DeFi Development in the fourth quarter worth about $47,000. Finally, Aristides Capital LLC purchased a new position in shares of DeFi Development in the fourth quarter worth about $187,000. 0.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on DFDV shares. Cantor Fitzgerald dropped their price target on shares of DeFi Development from $7.00 to $4.70 and set an "overweight" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DeFi Development in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4.70.

DeFi Development Stock Performance

Shares of DFDV opened at $5.87 on Monday. The stock's 50-day simple moving average is $3.42 and its 200 day simple moving average is $3.71. The stock has a market capitalization of $181.97 million, a price-to-earnings ratio of -0.59 and a beta of -3.75. The company has a debt-to-equity ratio of 12.53, a quick ratio of 1.27 and a current ratio of 1.27. DeFi Development Corp. has a 52-week low of $2.44 and a 52-week high of $18.99.

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

Insider Transactions at DeFi Development

In other news, insider Daniel Kang bought 11,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $3.88 per share, with a total value of $42,680.00. Following the acquisition, the insider owned 18,181 shares of the company's stock, valued at approximately $70,542.28. The trade was a 153.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Parker White acquired 10,069 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average price of $3.91 per share, for a total transaction of $39,369.79. Following the transaction, the insider directly owned 279,944 shares of the company's stock, valued at $1,094,581.04. This represents a 3.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 34,069 shares of company stock worth $119,880. Insiders own 23.61% of the company's stock.

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.

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