Galaxy Digital Inc. $GLXY Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its position in Galaxy Digital Inc. (NASDAQ:GLXY) by 173.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 252,558 shares of the company’s stock after purchasing an additional 160,305 shares during the period. SG Americas Securities LLC’s holdings in Galaxy Digital were worth $5,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TrueWealth Advisors LLC acquired a new position in Galaxy Digital in the fourth quarter valued at approximately $316,000. GK Wealth Management LLC acquired a new stake in Galaxy Digital during the fourth quarter worth $246,000. Strategic Investment Solutions Inc. IL raised its position in Galaxy Digital by 239.0% in the third quarter. Strategic Investment Solutions Inc. IL now owns 12,181 shares of the company’s stock valued at $412,000 after purchasing an additional 8,588 shares during the period. IFP Advisors Inc raised its position in Galaxy Digital by 40.6% in the third quarter. IFP Advisors Inc now owns 5,388 shares of the company’s stock valued at $182,000 after purchasing an additional 1,555 shares during the period. Finally, Swiss Life Asset Management Ltd acquired a new position in shares of Galaxy Digital in the 3rd quarter valued at $228,000.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason purchased 25,000 shares of Galaxy Digital stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price 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 $1,227,200. This trade represents a 73.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GLXY shares. Canaccord Genuity Group reiterated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a report on Friday, January 30th. The Goldman Sachs Group decreased their target price on shares of Galaxy Digital from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Morgan Stanley lowered their target price on shares of Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and set a $46.00 price target on shares of Galaxy Digital in a research report on Friday, January 30th. Finally, Wall Street Zen downgraded shares of Galaxy Digital from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Galaxy Digital currently has an average rating of “Moderate Buy” and an average price target of $42.77.

Galaxy Digital Trading Up 7.6%

Shares of NASDAQ GLXY opened at $18.45 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $7.18 billion and a PE ratio of 153.75. Galaxy Digital Inc. has a twelve month low of $8.20 and a twelve month high of $45.92. The stock has a fifty day simple moving average of $22.79 and a 200-day simple moving average of $27.86.

Galaxy Digital (NASDAQ:GLXY) last posted its earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $0.16. The firm had revenue of $10.22 billion for the quarter, compared to analyst estimates of $13.08 billion.

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.