Douglas Deason Buys 10,000 Shares of Galaxy Digital (NASDAQ:GLXY) Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Douglas Deason purchased 10,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were purchased at an average price of $29.59 per share, with a total value of $295,900.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at $295,900. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Galaxy Digital Price Performance

Shares of GLXY opened at $30.74 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The stock has a market cap of $11.57 billion and a PE ratio of 25.62. Galaxy Digital Inc. has a 1 year low of $8.20 and a 1 year high of $45.92. The business’s 50 day moving average price is $34.31.

Institutional Investors Weigh In On Galaxy Digital

Institutional investors have recently made changes to their positions in the company. Insight Advisors LLC PA purchased a new position in shares of Galaxy Digital during the 3rd quarter worth about $283,000. Zweig DiMenna Associates LLC bought a new stake in Galaxy Digital in the third quarter worth about $6,030,000. Vanguard Group Inc. boosted its position in shares of Galaxy Digital by 15.5% during the third quarter. Vanguard Group Inc. now owns 16,206,111 shares of the company’s stock valued at $547,950,000 after buying an additional 2,179,540 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in shares of Galaxy Digital during the third quarter valued at approximately $3,010,000. Finally, HighTower Advisors LLC grew its stake in shares of Galaxy Digital by 234.1% during the third quarter. HighTower Advisors LLC now owns 56,211 shares of the company’s stock valued at $1,900,000 after buying an additional 39,388 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GLXY. Morgan Stanley initiated coverage on shares of Galaxy Digital in a research note on Thursday, November 6th. They set an “overweight” rating and a $42.00 price target on the stock. Canaccord Genuity Group boosted their target price on shares of Galaxy Digital from $34.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. BTIG Research increased their price target on shares of Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Benchmark lifted their price target on Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Maxim Group started coverage on Galaxy Digital in a research note on Thursday, July 31st. They set a “buy” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Galaxy Digital has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

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.