Analysts Set Galaxy Digital Inc. (NASDAQ:GLXY) PT at $38.67

Galaxy Digital Inc. (NASDAQ:GLXY) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $38.6667.

Several research analysts have commented on GLXY shares. Chardan Capital reissued a “buy” rating and set a $35.00 target price on shares of Galaxy Digital in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Galaxy Digital in a research note on Friday, August 21st. Zacks Research lowered shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Piper Sandler lowered their price objective on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Finally, Rosenblatt Securities dropped their price objective on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, August 3rd.

Insider Buying and Selling at Galaxy Digital

In related news, Director Steven John Bandrowczak purchased 5,100 shares of the stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the acquisition, the director owned 39,186 shares of the company’s stock, valued at approximately $769,221.18. This represents a 14.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas R. Deason purchased 12,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average price of $21.54 per share, with a total value of $258,480.00. Following the completion of the purchase, the director directly owned 71,000 shares in the company, valued at $1,529,340. The trade was a 20.34% increase in their position. The SEC filing for this purchase provides additional information. 51.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Galaxy Digital

Several large investors have recently bought and sold shares of GLXY. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Galaxy Digital during the second quarter valued at about $1,552,000. California State Teachers Retirement System increased its stake in shares of Galaxy Digital by 2,735.0% in the second quarter. California State Teachers Retirement System now owns 6,074,538 shares of the company’s stock valued at $166,078,000 after buying an additional 5,860,265 shares during the period. Compass Financial Management LLC acquired a new position in shares of Galaxy Digital in the second quarter valued at approximately $120,000. FirstWave Capital Management LLC bought a new position in Galaxy Digital in the 2nd quarter valued at approximately $1,262,000. Finally, TD Waterhouse Canada Inc. raised its holdings in Galaxy Digital by 81.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,231 shares of the company’s stock valued at $239,000 after buying an additional 4,148 shares during the last quarter.

Galaxy Digital Stock Up 6.0%

Shares of GLXY opened at $24.60 on Tuesday. The firm has a 50 day simple moving average of $23.55 and a two-hundred day simple moving average of $24.62. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50. Galaxy Digital has a one year low of $16.43 and a one year high of $45.92. The company has a market cap of $9.62 billion, a P/E ratio of -37.85 and a beta of 5.06.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results 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 company had revenue of $8.71 billion for the quarter. During the same quarter in the previous year, the business posted $0.08 EPS. Research analysts forecast that Galaxy Digital will post -0.82 EPS 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.