Galaxy Digital (NASDAQ:GLXY) Stock: Insider Medina Rhonda Adams Sells 12,000 Shares

Galaxy Digital Inc. (NASDAQ:GLXY) Director Medina Adams sold 12,000 shares of Galaxy Digital stock in a transaction on Friday, October 30th. The shares were sold at an average price of $16.45, for a total transaction of $197,400.00. Following the completion of the transaction, the director directly owned 107,919 shares of the company’s stock, valued at $1,775,267.55. The trade was a 10.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Galaxy Digital Price Performance

Shares of Galaxy Digital stock traded down $1.41 during trading hours on Monday, reaching $14.59. The stock had a trading volume of 9,070,152 shares, compared to its average volume of 6,429,799. The stock’s 50 day moving average is $21.84 and its 200 day moving average is $24.22. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. Galaxy Digital Inc. has a twelve month low of $14.19 and a twelve month high of $36.88. The firm has a market capitalization of $5.70 billion, a PE ratio of -14.59 and a beta of 5.39.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.54. The company had revenue of $8.69 billion during the quarter. Galaxy Digital had a negative return on equity of 10.30% and a negative net margin of 0.89%. Equities analysts expect that Galaxy Digital Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Galaxy Digital

A number of institutional investors have recently made changes to their positions in GLXY. Triumph Capital Management increased its position in shares of Galaxy Digital by 13.2% during the second quarter. Triumph Capital Management now owns 4,893 shares of the company’s stock worth $134,000 after purchasing an additional 572 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Galaxy Digital by 6.9% in the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after purchasing an additional 655 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Galaxy Digital by 2.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,541 shares of the company’s stock worth $717,000 after purchasing an additional 767 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Galaxy Digital by 5.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 19,976 shares of the company’s stock worth $546,000 after purchasing an additional 994 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Galaxy Digital during the 2nd quarter worth $30,000.

Wall Street Analysts Forecast Growth

GLXY has been the topic of a number of recent analyst reports. Piper Sandler decreased their target price on Galaxy Digital from $33.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Canaccord Genuity Group restated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a research report on Wednesday, October 28th. Morgan Stanley reduced their price objective on shares of Galaxy Digital from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Weiss Ratings downgraded shares of Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Finally, The Goldman Sachs Group set a $20.50 target price on shares of Galaxy Digital in a research report on Tuesday, October 27th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Galaxy Digital has an average rating of “Moderate Buy” and an average price target of $35.29.

About Galaxy Digital

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Founded in 2018 by Michael Novogratz, the company provides institutional investors, corporations and other market participants with services spanning trading, asset management, investment banking, principal investments and venture capital.

Its offerings include spot and derivatives trading, lending and structured products, digital-asset funds and separately managed accounts, as well as advisory services for mergers, acquisitions, capital raising and other strategic transactions.