Voya Investment Management LLC Makes New Investment in Galaxy Digital Inc. $GLXY

Voya Investment Management LLC bought a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 92,673 shares of the company’s stock, valued at approximately $3,133,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLXY. Balyasny Asset Management L.P. purchased a new stake in shares of Galaxy Digital during the second quarter valued at approximately $113,435,000. Invesco Ltd. purchased a new position in Galaxy Digital in the second quarter worth $53,233,000. Tidal Investments LLC bought a new position in Galaxy Digital in the 2nd quarter valued at $48,452,000. Geode Capital Management LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at $43,525,000. Finally, Marshall Wace LLP purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at $35,568,000.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $23.40 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $9.14 billion and a PE ratio of 19.50. Galaxy Digital Inc. has a twelve month low of $8.20 and a twelve month high of $45.92. The company has a 50-day moving average price of $29.06 and a two-hundred day moving average price of $27.98.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, CEO Michael Novogratz sold 3,000,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total transaction of $108,000,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher C. Ferraro sold 750,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $27,000,000.00. Following the completion of the transaction, the insider directly owned 687,921 shares of the company’s stock, valued at $24,765,156. The trade was a 52.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLXY. Canaccord Genuity Group boosted their price target on shares of Galaxy Digital from $34.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Benchmark lifted their price objective on shares of Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Citizens Jmp began coverage on shares of Galaxy Digital in a research note on Tuesday, December 9th. They issued a “market outperform” rating and a $60.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Galaxy Digital in a research note on Monday. Finally, Rosenblatt Securities lifted their price target on shares of Galaxy Digital from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Galaxy Digital currently has an average rating of “Buy” and an average target price of $46.00.

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.