Matthew Friedrich Sells 4,993 Shares of Galaxy Digital (NASDAQ:GLXY) Stock

Galaxy Digital Inc. (NASDAQ:GLXY) insider Matthew Friedrich sold 4,993 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $27.03, for a total value of $134,960.79. Following the completion of the transaction, the insider directly owned 275,782 shares of the company’s stock, valued at approximately $7,454,387.46. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Galaxy Digital Trading Up 1.1%

NASDAQ GLXY opened at $24.40 on Friday. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $9.54 billion, a P/E ratio of -37.54 and a beta of 5.10. The stock’s 50-day moving average is $23.13 and its 200-day moving average is $24.85.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.27. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.The business had revenue of $8.71 billion during the quarter. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Sell-side analysts anticipate that Galaxy Digital Inc. will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Galaxy Digital

Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of Galaxy Digital by 2.1% in the third quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after purchasing an additional 411 shares during the last quarter. Triumph Capital Management boosted its holdings in Galaxy Digital by 13.2% during the second quarter. Triumph Capital Management now owns 4,893 shares of the company’s stock worth $134,000 after purchasing an additional 572 shares during the last quarter. Private Advisor Group LLC grew its position in Galaxy Digital by 6.9% in the first quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after purchasing an additional 655 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Galaxy Digital by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock valued at $1,182,000 after purchasing an additional 666 shares in the last quarter. Finally, Main Management ETF Advisors LLC increased its stake in Galaxy Digital by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock valued at $1,593,000 after buying an additional 728 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on GLXY shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Galaxy Digital in a report on Friday, August 21st. Chardan Capital restated a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a report on Wednesday, August 5th. Piper Sandler cut their price objective on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Morgan Stanley upped their target price on shares of Galaxy Digital from $37.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Finally, Citigroup lowered their target price on Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, August 19th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.58.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy’s business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.