Pictet Asset Management Holding SA Grows Position in Galaxy Digital Inc. $GLXY

Pictet Asset Management Holding SA raised its position in Galaxy Digital Inc. (NASDAQ:GLXY) by 184.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,708 shares of the company’s stock after purchasing an additional 52,334 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Galaxy Digital were worth $1,808,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GLXY. SG Americas Securities LLC grew its position in shares of Galaxy Digital by 173.8% during the fourth quarter. SG Americas Securities LLC now owns 252,558 shares of the company’s stock worth $5,647,000 after acquiring an additional 160,305 shares during the last quarter. Vanguard Group Inc. grew 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 worth $547,950,000 after acquiring an additional 2,179,540 shares during the last quarter. Rovida Investment Management Ltd grew its position in shares of Galaxy Digital by 21.2% during the third quarter. Rovida Investment Management Ltd now owns 1,861,200 shares of the company’s stock worth $62,890,000 after acquiring an additional 325,000 shares during the last quarter. Capelight Capital Asset Management LP bought a new position in shares of Galaxy Digital during the fourth quarter worth about $4,025,000. Finally, Polianta Ltd bought a new position in shares of Galaxy Digital during the fourth quarter worth about $1,379,000.

Wall Street Analyst Weigh In

GLXY has been the subject of several recent research reports. Chardan Capital restated a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research report on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Galaxy Digital in a research report on Friday. Canaccord Genuity Group restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research report on Friday, April 24th. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research report on Tuesday, April 28th. Finally, Citizens Jmp restated a “market outperform” rating and set a $55.00 price target on shares of Galaxy Digital in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Galaxy Digital has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Galaxy Digital Stock Performance

Shares of GLXY opened at $29.17 on Tuesday. The firm has a 50-day moving average price of $22.01 and a 200 day moving average price of $25.89. The firm has a market capitalization of $11.35 billion and a PE ratio of -60.77. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.80. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. The firm had revenue of $7.35 billion during the quarter. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.27%. During the same quarter in the prior year, the company earned ($0.86) EPS. On average, sell-side analysts anticipate that Galaxy Digital Inc. will post -0.76 earnings per share for the current fiscal year.

Insider Transactions 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 stock was purchased at an average price of $20.80 per share, for a total transaction of $520,000.00. Following the transaction, the director directly owned 59,000 shares of the company’s stock, valued at approximately $1,227,200. This represents a 73.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 51.53% of the stock is owned by corporate insiders.

About Galaxy Digital

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.