Galaxy Digital (NASDAQ:GLXY) Trading Down 5.1% – What’s Next?

Galaxy Digital (NASDAQ:GLXY)’s stock price fell 5.1% during mid-day trading on Tuesday . The stock traded as low as $19.75 and last traded at $19.87. 1,880,946 shares traded hands during trading, an increase of 95% from the average session volume of 962,453 shares. The stock had previously closed at $20.93.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Atb Cap Markets upgraded shares of Galaxy Digital to a “strong-buy” rating in a report on Tuesday, May 20th. Wall Street Zen raised shares of Galaxy Digital to a “sell” rating in a research report on Saturday, May 24th. Finally, HC Wainwright raised shares of Galaxy Digital to a “strong-buy” rating in a research report on Friday, May 16th.

Galaxy Digital Trading Down 4.1%

Insider Buying and Selling

In other Galaxy Digital news, CEO Michael Novogratz sold 3,372,875 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total value of $61,049,037.50. Following the completion of the sale, the chief executive officer now directly owns 348,921 shares of the company’s stock, valued at $6,315,470.10. This trade represents a 90.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Erin Elizabeth Brown sold 87,704 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $22.17, for a total value of $1,944,397.68. Following the transaction, the chief operating officer now directly owns 402,591 shares in the company, valued at $8,925,442.47. This represents a 17.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,287,704 shares of company stock valued at $96,064,398.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.