Swiss National Bank Increases Stake in Galaxy Digital Inc. $GLXY

Swiss National Bank lifted its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 8.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 380,700 shares of the company’s stock after purchasing an additional 31,200 shares during the period. Swiss National Bank owned about 0.10% of Galaxy Digital worth $7,024,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System purchased a new stake in Galaxy Digital during the first quarter valued at about $5,446,000. Independent Financial Group LLC purchased a new position in shares of Galaxy Digital in the first quarter worth about $188,000. Bank of New York Mellon Corp lifted its stake in shares of Galaxy Digital by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 108,391 shares of the company’s stock valued at $2,000,000 after acquiring an additional 1,557 shares during the last quarter. AMG National Trust Bank bought a new stake in shares of Galaxy Digital in the 1st quarter valued at about $657,000. Finally, Fifth Third Bancorp bought a new stake in shares of Galaxy Digital in the 1st quarter valued at about $123,000.

Insider Activity at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the sale, the director owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 51.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GLXY shares. Weiss Ratings lowered Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Zacks Research downgraded Galaxy Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Rosenblatt Securities reissued a “buy” rating and set a $39.00 price objective on shares of Galaxy Digital in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.62.

Galaxy Digital Trading Down 7.8%

NASDAQ GLXY opened at $20.94 on Wednesday. The firm has a market capitalization of $8.16 billion, a PE ratio of -43.62 and a beta of 4.84. The stock’s 50 day moving average is $27.82 and its 200 day moving average is $25.59. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. The business had revenue of $10.21 billion during the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same quarter last year, the company posted ($0.86) EPS. Research analysts forecast that Galaxy Digital Inc. will post -0.5 earnings per share for the current fiscal year.

Galaxy Digital Company Profile

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.