1,133,893 Shares in Galaxy Digital Inc. $GLXY Acquired by Clear Street Group Inc.

Clear Street Group Inc. bought a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) during the third quarter, HoldingsChannel reports. The institutional investor bought 1,133,893 shares of the company’s stock, valued at approximately $38,337,000.

A number of other large investors have also recently bought and sold shares of GLXY. Balyasny Asset Management L.P. purchased a new position in Galaxy Digital during the second quarter worth $113,435,000. Invesco Ltd. purchased a new stake in shares of Galaxy Digital in the second quarter valued at $53,233,000. Tidal Investments LLC purchased a new stake in shares of Galaxy Digital in the second quarter valued at $48,452,000. Vanguard Group Inc. boosted its stake 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 acquiring an additional 2,179,540 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Galaxy Digital during the second quarter valued at $43,525,000.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $22.35 on Friday. The business’s 50-day moving average price is $24.67 and its 200 day moving average price is $28.21. Galaxy Digital Inc. has a twelve month low of $8.20 and a twelve month high of $45.92. The company has a market capitalization of $8.73 billion and a PE ratio of 186.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.80.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.16. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $13.08 billion.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GLXY. Rosenblatt Securities reissued a “buy” rating and issued a $46.00 target price on shares of Galaxy Digital in a research note on Friday, January 30th. The Goldman Sachs Group decreased their price target on shares of Galaxy Digital from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. HC Wainwright lowered their price target on shares of Galaxy Digital from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price objective on shares of Galaxy Digital in a research report on Friday, January 30th. Finally, Morgan Stanley reduced their price objective on shares of Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Galaxy Digital currently has an average rating of “Moderate Buy” and an average target price of $42.54.

Insider Buying and Selling at Galaxy Digital

In related news, Director Douglas R. Deason bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average cost of $20.80 per share, with a total value of $520,000.00. Following the completion of the transaction, the director owned 59,000 shares of the company’s stock, valued at approximately $1,227,200. The trade was a 73.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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.