Galaxy Digital (NASDAQ:GLXY) Given New $21.00 Price Target at The Goldman Sachs Group

Galaxy Digital (NASDAQ:GLXY) had its price objective trimmed by The Goldman Sachs Group from $24.00 to $21.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. Citizens Jmp restated a “market outperform” rating and set a $60.00 target price on shares of Galaxy Digital in a research report on Wednesday, February 4th. Morgan Stanley dropped their target price on Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Cantor Fitzgerald dropped their target price on Galaxy Digital from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Finally, Wall Street Zen downgraded Galaxy Digital from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Galaxy Digital presently has an average rating of “Moderate Buy” and an average price target of $42.54.

Galaxy Digital Price Performance

Galaxy Digital stock opened at $19.00 on Wednesday. Galaxy Digital has a 12 month low of $9.10 and a 12 month high of $45.92. 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 business’s 50 day simple moving average is $21.13 and its 200 day simple moving average is $27.29. The company has a market cap of $7.39 billion and a price-to-earnings ratio of 158.33.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.24) by $0.16. The firm had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $13.08 billion.

Insider Activity

In other Galaxy Digital news, Director Douglas R. Deason acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were bought at an average price of $20.80 per share, for a total transaction of $520,000.00. Following the completion of the transaction, the director owned 59,000 shares of the company’s stock, valued at approximately $1,227,200. This represents a 73.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in Galaxy Digital by 1,110.0% in the third quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after acquiring an additional 888 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of Galaxy Digital during the 3rd quarter valued at $34,000. CWM LLC grew its holdings in shares of Galaxy Digital by 20.8% during the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after purchasing an additional 244 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Galaxy Digital by 183.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock valued at $32,000 after purchasing an additional 928 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its holdings in shares of Galaxy Digital by 200.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter.

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.