Galaxy Digital (NASDAQ:GLXY) Director Sells $7,192,500.00 in Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Michael Daffey sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the completion of the transaction, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Galaxy Digital Trading Down 3.1%

NASDAQ:GLXY opened at $28.65 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The company has a market cap of $11.17 billion and a PE ratio of -59.69. The company has a 50 day simple moving average of $24.31 and a two-hundred day simple moving average of $25.13.

Galaxy Digital (NASDAQ:GLXY) last posted its earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. The business had revenue of $10.21 billion during the quarter. During the same period last year, the firm posted ($0.86) EPS. Research analysts forecast that Galaxy Digital Inc. will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Galaxy Digital

A number of hedge funds have recently modified their holdings of GLXY. JPMorgan Chase & Co. bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at $80,000. Invesco Ltd. bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at $53,233,000. EverSource Wealth Advisors LLC bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at $116,000. First Trust Advisors LP bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at $13,376,000. Finally, Cerity Partners LLC bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at $219,000.

Analyst Ratings Changes

A number of equities research analysts have commented on GLXY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Galaxy Digital in a research report on Friday, May 1st. Citigroup lifted their target price on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group cut their target price on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. HC Wainwright cut their target price on shares of Galaxy Digital from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $55.00 target price on shares of Galaxy Digital in a research report on Wednesday, April 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Galaxy Digital Company 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.