Galaxy Digital (NASDAQ:GLXY) Director Sells $7,192,500.00 in Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Michael Daffey sold 250,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the transaction, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Galaxy Digital Stock Performance

Galaxy Digital stock traded up $1.80 during midday trading on Thursday, hitting $29.57. 4,179,688 shares of the company’s stock were exchanged, compared to its average volume of 6,119,180. The firm’s 50 day simple moving average is $24.01 and its 200 day simple moving average is $25.14. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market cap of $11.53 billion and a price-to-earnings ratio of -61.60. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.10. The firm had revenue of $10.21 billion during the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period in the prior year, the company earned ($0.86) earnings per share. Equities research analysts predict that Galaxy Digital Inc. will post -0.32 EPS for the current year.

Institutional Trading of Galaxy Digital

Several hedge funds have recently modified their holdings of the business. Capital Research Global Investors acquired a new position in shares of Galaxy Digital during the 4th quarter worth $406,102,000. Vanguard Group Inc. grew its stake in shares of Galaxy Digital by 27.5% during the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after purchasing an additional 4,463,782 shares during the period. Invesco Ltd. acquired a new position in shares of Galaxy Digital during the 2nd quarter worth $53,233,000. Tidal Investments LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter worth $48,452,000. Finally, Norges Bank acquired a new position in shares of Galaxy Digital during the 4th quarter worth $32,045,000.

Analyst Upgrades and Downgrades

GLXY has been the subject of several recent research reports. Weiss Ratings downgraded Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $39.00 price target on shares of Galaxy Digital in a report on Thursday, April 23rd. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a report on Thursday. Chardan Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $37.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.50.

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.