Centerpoint Advisors LLC Makes New $33,000 Investment in Galaxy Digital Inc. $GLXY

Centerpoint Advisors LLC acquired a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,500 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors also recently bought and sold shares of the business. CWM LLC purchased a new stake in Galaxy Digital during the second quarter worth approximately $26,000. DHJJ Financial Advisors Ltd. purchased a new stake in Galaxy Digital during the second quarter worth approximately $34,000. FNY Investment Advisers LLC purchased a new stake in Galaxy Digital during the second quarter worth approximately $60,000. SJS Investment Consulting Inc. purchased a new stake in Galaxy Digital during the second quarter worth approximately $77,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Galaxy Digital during the second quarter worth approximately $79,000.

Wall Street Analyst Weigh In

GLXY has been the subject of several research reports. BTIG Research boosted their price objective on shares of Galaxy Digital from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Jefferies Financial Group assumed coverage on shares of Galaxy Digital in a research note on Wednesday, July 23rd. They issued a “buy” rating and a $35.00 target price for the company. Benchmark upped their target price on shares of Galaxy Digital from $40.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Piper Sandler upped their target price on shares of Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of Galaxy Digital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $44.63.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, insider Christopher C. Ferraro sold 750,000 shares of the stock in a transaction on Friday, October 10th. The shares were sold at an average price of $36.00, for a total transaction of $27,000,000.00. Following the sale, the insider directly owned 687,921 shares of the company’s stock, valued at approximately $24,765,156. This represents a 52.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Erin Elizabeth Brown sold 350,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the sale, the chief operating officer directly owned 198,088 shares in the company, valued at $5,344,414.24. This trade represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,183,333 shares of company stock valued at $146,851,323 in the last ninety days.

Galaxy Digital Price Performance

GLXY opened at $40.55 on Tuesday. The firm has a market capitalization of $15.26 billion and a PE ratio of 506.88. The company has a fifty day moving average of $32.36. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. Galaxy Digital Inc. has a 12-month low of $8.20 and a 12-month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $8.66 billion for the quarter, compared to analyst estimates of $13.11 billion.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.