Galaxy Digital (NASDAQ:GLXY) Posts Quarterly Earnings Results

Galaxy Digital (NASDAQ:GLXY) released its quarterly earnings results on Tuesday. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.54, FiscalAI reports. The company had revenue of $8.69 billion for the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.

Galaxy Digital Stock Up 0.3%

NASDAQ:GLXY traded up $0.06 during trading hours on Thursday, reaching $19.15. The company’s stock had a trading volume of 1,714,090 shares, compared to its average volume of 6,383,738. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $7.49 billion, a price-to-earnings ratio of -29.46 and a beta of 5.11. Galaxy Digital has a one year low of $14.19 and a one year high of $36.88. The business’s 50-day moving average is $22.07 and its 200-day moving average is $24.30.

Galaxy Digital News Roundup

Here are the key news stories impacting Galaxy Digital this week:

• Positive Sentiment: National trust bank application: Galaxy Digital applied to the OCC to establish Galaxy National Bank, a proposed federally supervised trust institution. If approved, the bank would house custody, trading, staking, and fiduciary investment-advisory services under federal oversight, potentially improving institutional confidence in Galaxy’s digital-asset platform. Galaxy Applies for National Trust Bank Charter
• Positive Sentiment: Strong Q3 results: Galaxy reported approximately $323 million in quarterly profit, reversing the recent loss narrative. Earnings per share of $0.83 exceeded the $0.29 consensus estimate, while revenue reached $8.69 billion. The rebound in the company’s investments and growth in AI-focused data-center operations helped drive the result. Galaxy Digital reports $323M quarterly profit as AI data center revenue surges
• Positive Sentiment: Capital-return and growth initiatives: Reports highlighted a new share buyback and continued expansion of the Helios and AI data-center businesses, supporting the view that Galaxy is becoming less dependent on cryptocurrency trading alone. Galaxy Digital Stock Rises After Q3 Profit and New Buyback
• Positive Sentiment: Analyst support remains strong: Chardan and Canaccord reaffirmed “Buy” ratings, with price targets of $35 and $50, respectively. Chardan’s target was reiterated after the earnings release. Chardan Reaffirms Buy Rating
• Neutral Sentiment: BTIG and HC Wainwright reduced their price targets to $35 and $36, respectively, but both maintained Buy ratings, indicating improved caution rather than a change to a bearish outlook. BTIG Lowers Galaxy Digital Price Target
• Negative Sentiment: Put-option trading was unusually heavy, with 32,920 puts purchased—about 23% above typical volume—suggesting that some traders continue to hedge against Galaxy’s high volatility and exposure to crypto-market swings.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GLXY. Piper Sandler lowered their price objective on shares of Galaxy Digital from $33.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 20th. Chardan Capital reissued a “buy” rating and set a $35.00 target price on shares of Galaxy Digital in a research note on Tuesday. BTIG Research reduced their target price on shares of Galaxy Digital from $45.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley decreased their price target on shares of Galaxy Digital from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Finally, HC Wainwright dropped their price target on Galaxy Digital from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Galaxy Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.29.

Insider Buying and Selling

In related news, insider Matthew W. Friedrich sold 4,993 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $27.03, for a total transaction of $134,960.79. Following the completion of the transaction, the insider owned 275,782 shares of the company’s stock, valued at approximately $7,454,387.46. The trade was a 1.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Bandrowczak acquired 5,100 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $19.63 per share, with a total value of $100,113.00. Following the transaction, the director directly owned 39,186 shares in the company, valued at $769,221.18. The trade was a 14.96% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 51.53% of the company’s stock.

Institutional Trading of Galaxy Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Galaxy Digital by 99.7% during the second quarter. State Street Corp now owns 3,833,993 shares of the company’s stock valued at $104,821,000 after purchasing an additional 1,913,688 shares in the last quarter. Moore Capital Management LP lifted its position in Galaxy Digital by 52.9% during the 2nd quarter. Moore Capital Management LP now owns 2,082,250 shares of the company’s stock worth $56,929,000 after buying an additional 720,000 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Galaxy Digital by 112.4% in 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 purchasing an additional 605,986 shares in the last quarter. Anson Funds Management LP acquired a new position in shares of Galaxy Digital during the first quarter valued at $11,070,000. Finally, AWM Investment Company Inc. bought a new stake in Galaxy Digital during the 2nd quarter worth about $12,221,000.

Galaxy Digital Company Profile

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Founded in 2018 by Michael Novogratz, the company provides institutional investors, corporations and other market participants with services spanning trading, asset management, investment banking, principal investments and venture capital.

Its offerings include spot and derivatives trading, lending and structured products, digital-asset funds and separately managed accounts, as well as advisory services for mergers, acquisitions, capital raising and other strategic transactions.