Galaxy Digital (NASDAQ:GLXY) Director Purchases 5,000 Shares of Stock

by · The Markets Daily

Galaxy Digital Inc. (NASDAQ:GLXY – Get Free Report) Director Douglas Deason purchased 5,000 shares of Galaxy Digital stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $13.98 per share, for a total transaction of $69,900.00. Following the completion of the purchase, the director owned 76,000 shares of the company’s stock, valued at $1,062,480. This trade represents a 7.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Galaxy Digital Stock Down 2.8%

NASDAQ:GLXY traded down $0.40 on Tuesday, reaching $14.11. 6,356,857 shares of the stock traded hands, compared to its average volume of 6,578,936. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $20.69 and its 200 day simple moving average is $23.72. Galaxy Digital Inc. has a 12 month low of $11.78 and a 12 month high of $36.10. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of -14.11 and a beta of 5.38.

Galaxy Digital (NASDAQ:GLXY – Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.54. Galaxy Digital had a negative net margin of 0.89% and a negative return on equity of 10.30%. The company had revenue of $8.69 billion during the quarter. Equities analysts predict that Galaxy Digital Inc. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Galaxy Digital from $43.00 to $27.00 and set an “overweight” rating for the company in a report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research note on Wednesday, October 28th. Weiss Ratings cut Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Rosenblatt Securities reduced their price target on Galaxy Digital from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Finally, HC Wainwright lowered their target price on shares of Galaxy Digital from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.96.

Get Our Latest Report on Galaxy Digital

Institutional Trading of Galaxy Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLXY. Public Employees Retirement System of Ohio purchased a new stake in shares of Galaxy Digital during the 2nd quarter worth about $1,456,000. State Street Corp boosted its holdings in shares of Galaxy Digital by 99.7% in the 2nd quarter. State Street Corp now owns 3,833,993 shares of the company’s stock valued at $104,821,000 after buying an additional 1,913,688 shares during the period. Riposte Capital LLC acquired a new stake in Galaxy Digital in the first quarter worth $2,952,000. Bank of America Corp DE raised its holdings in shares of Galaxy Digital by 112.4% during the second quarter. Bank of America Corp DE now owns 1,145,172 shares of the company’s stock valued at $31,309,000 after buying an additional 605,986 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Galaxy Digital by 67.5% during the second quarter. Squarepoint Ops LLC now owns 144,335 shares of the company’s stock valued at $3,946,000 after purchasing an additional 58,161 shares in the last quarter.

Galaxy Digital Company Profile

(Get Free Report)

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Its businesses include trading and other financial services for institutions, investment and asset management, and digital infrastructure, including data center and bitcoin mining operations. Founded in 2018 by Michael Novogratz, the company serves institutional clients and investors in the United States and other markets. Novogratz is Galaxy’s founder and chief executive officer.

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