Galaxy Digital Inc. (GLXY) – What Are Investment Firms Thinking About This Stock?

Galaxy Digital Inc. (NASDAQ:GLXY) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $38.67.

GLXY has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Galaxy Digital from a “strong sell” rating to a “hold” rating in a research note on Friday, September 18th. Weiss Ratings upgraded shares of Galaxy Digital from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. BTIG Research dropped their target price on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Morgan Stanley dropped their target price on shares of Galaxy Digital from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Finally, Citigroup upgraded shares of Galaxy Digital from a “neutral” rating to a “buy” rating and raised their target price for the company from $26.00 to $28.00 in a research note on Tuesday, October 13th.

Insiders Place Their Bets

In related news, Director Steven Bandrowczak bought 5,100 shares of Galaxy Digital stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $19.63 per share, with a total value of $100,113.00. Following the acquisition, the director owned 39,186 shares in the company, valued at $769,221.18. This trade represents a 14.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Matthew W. Friedrich sold 4,993 shares of the 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 sale, the insider owned 275,782 shares in the company, valued at $7,454,387.46. The trade was a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 51.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLXY. Blue Jean Financial LLC increased its stake in shares of Galaxy Digital by 6.8% in the third quarter. Blue Jean Financial LLC now owns 148,911 shares of the company’s stock valued at $3,386,000 after buying an additional 9,440 shares during the period. Clark Financial Services Group Inc. BD grew its stake in Galaxy Digital by 10.4% during the third quarter. Clark Financial Services Group Inc. BD now owns 18,250 shares of the company’s stock worth $415,000 after purchasing an additional 1,717 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Galaxy Digital by 13.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 46,143 shares of the company’s stock valued at $1,049,000 after acquiring an additional 5,637 shares in the last quarter. Pension & Wealth Management Advisors Inc. increased its stake in Galaxy Digital by 37.4% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 11,874 shares of the company’s stock valued at $270,000 after purchasing an additional 3,231 shares in the last quarter. Finally, Sullivan Wood Capital Management LLC raised its stake in Galaxy Digital by 4.0% during the 3rd quarter. Sullivan Wood Capital Management LLC now owns 1,460,546 shares of the company’s stock worth $33,213,000 after buying an additional 55,804 shares during the period.

Galaxy Digital Trading Up 0.3%

NASDAQ GLXY opened at $15.76 on Wednesday. Galaxy Digital has a 12 month low of $15.03 and a 12 month high of $45.92. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average of $22.74 and a 200-day moving average of $25.02. The company has a market cap of $6.16 billion, a PE ratio of -24.25 and a beta of 5.11.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share 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 quarter in the previous year, the firm posted $0.08 earnings per share. On average, equities research analysts anticipate that Galaxy Digital will post -0.71 EPS for the current fiscal year.

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.