Galaxy Digital (NASDAQ:GLXY) Insider Matthew Friedrich Sells 4,993 Shares of Stock

Galaxy Digital Inc. (NASDAQ:GLXY) insider Matthew Friedrich sold 4,993 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $27.03, for a total transaction of $134,960.79. Following the sale, the insider directly owned 275,782 shares of the company’s stock, valued at approximately $7,454,387.46. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Galaxy Digital Stock Performance

Shares of NASDAQ:GLXY opened at $25.15 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92. The business’s 50-day simple moving average is $23.14 and its 200 day simple moving average is $24.83. The company has a market cap of $9.83 billion, a P/E ratio of -38.69 and a beta of 5.10.

Galaxy Digital (NASDAQ:GLXY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.27. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. The business had revenue of $8.71 billion for the quarter. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, sell-side analysts forecast that Galaxy Digital Inc. will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Galaxy Digital

A number of institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors purchased a new stake in Galaxy Digital during the fourth quarter valued at about $406,102,000. California State Teachers Retirement System lifted its position in shares of Galaxy Digital by 2,735.0% in the 2nd quarter. California State Teachers Retirement System now owns 6,074,538 shares of the company’s stock valued at $166,078,000 after acquiring an additional 5,860,265 shares in the last quarter. Invesco Ltd. lifted its position in shares of Galaxy Digital by 31.1% in the 4th quarter. Invesco Ltd. now owns 3,082,187 shares of the company’s stock valued at $68,918,000 after acquiring an additional 731,215 shares in the last quarter. Geode Capital Management LLC boosted its stake in Galaxy Digital by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock worth $54,424,000 after purchasing an additional 279,818 shares during the period. Finally, Tidal Investments LLC purchased a new position in Galaxy Digital during the 2nd quarter worth approximately $48,452,000.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Zacks Research cut shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Piper Sandler lowered their price target on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Morgan Stanley upped their target price on Galaxy Digital from $37.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Citigroup lowered their target price on Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, August 19th. Finally, Rosenblatt Securities dropped their price target on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Galaxy Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.58.

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.