Primecap Management Co. CA Takes Position in Galaxy Digital Inc. $GLXY

by · The Markets Daily

Primecap Management Co. CA bought a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 290,700 shares of the company’s stock, valued at approximately $6,366,000. Primecap Management Co. CA owned about 0.08% of Galaxy Digital at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GLXY. Geode Capital Management LLC acquired a new stake in Galaxy Digital during the 2nd quarter worth $43,525,000. Rovida Investment Management Ltd purchased a new stake in shares of Galaxy Digital in the second quarter valued at about $33,612,000. Sullivan Wood Capital Management LLC acquired a new stake in shares of Galaxy Digital during the second quarter worth about $26,699,000. MMCAP International Inc. SPC purchased a new position in shares of Galaxy Digital during the second quarter worth about $16,646,000. Finally, Milestone Asset Management Group LLC purchased a new position in shares of Galaxy Digital during the second quarter worth about $5,972,000.

Insider Activity at Galaxy Digital

In other news, CEO Michael Novogratz sold 3,000,000 shares of Galaxy Digital stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $36.00, for a total transaction of $108,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas R. Deason purchased 10,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $29.59 per share, for a total transaction of $295,900.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at approximately $295,900. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 3,783,333 shares of company stock worth $135,994,323 in the last ninety days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BTIG Research increased their price objective on Galaxy Digital from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Canaccord Genuity Group increased their price target on Galaxy Digital from $34.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Morgan Stanley assumed coverage on shares of Galaxy Digital in a research report on Thursday, November 6th. They issued an “overweight” rating and a $42.00 price objective on the stock. Maxim Group began coverage on shares of Galaxy Digital in a research note on Thursday, July 31st. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Piper Sandler lifted their target price on shares of Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $43.78.

View Our Latest Stock Report on GLXY

Galaxy Digital Stock Performance

Shares of NASDAQ GLXY opened at $24.03 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Galaxy Digital Inc. has a one year low of $8.20 and a one year high of $45.92. The stock has a market cap of $9.04 billion and a price-to-earnings ratio of 20.03. The stock’s fifty day moving average is $34.49.

Galaxy Digital Company Profile

(Free Report)

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.

Featured Stories