SG Americas Securities LLC Takes Position in Galaxy Digital Inc. $GLXY

SG Americas Securities LLC bought a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 92,253 shares of the company’s stock, valued at approximately $3,119,000.

A number of other large investors have also bought and sold shares of GLXY. Balyasny Asset Management L.P. bought a new stake in Galaxy Digital in the second quarter valued at $113,435,000. Invesco Ltd. bought a new position in shares of Galaxy Digital during the 2nd quarter worth about $53,233,000. Tidal Investments LLC acquired a new stake in shares of Galaxy Digital in the 2nd quarter valued at about $48,452,000. Geode Capital Management LLC acquired a new stake in shares of Galaxy Digital in the 2nd quarter valued at about $43,525,000. Finally, Marshall Wace LLP bought a new stake in Galaxy Digital in the 2nd quarter valued at about $35,568,000.

Insider Activity at Galaxy Digital

In other news, Director Douglas R. Deason bought 10,000 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $29.59 per share, for a total transaction of $295,900.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $295,900. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $25.49 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $26.12 and its two-hundred day simple moving average is $28.50. Galaxy Digital Inc. has a 1-year low of $8.20 and a 1-year high of $45.92. The stock has a market cap of $9.96 billion and a PE ratio of 21.24.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GLXY shares. Rosenblatt Securities increased their price target on Galaxy Digital from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 20th. The Goldman Sachs Group decreased their price objective on Galaxy Digital from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, December 5th. JMP Securities set a $60.00 target price on Galaxy Digital in a report on Tuesday, December 9th. Piper Sandler lifted their price target on shares of Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Finally, Citizens Jmp assumed coverage on shares of Galaxy Digital in a research note on Tuesday, December 9th. They set a “market outperform” rating and a $60.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $46.00.

Galaxy Digital Profile

Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) is a diversified financial services and investment management firm dedicated to the digital assets and blockchain technology sectors. Established in 2018 by Mike Novogratz, the company operates across trading, asset management, principal investing and advisory services. Galaxy Digital caters to institutional clients, high-net-worth investors and corporations seeking exposure to cryptocurrencies, decentralized finance (DeFi) protocols and other blockchain-based assets.

In its trading division, Galaxy Digital provides market-making, execution and over-the-counter (OTC) solutions for a wide range of digital tokens.