Galaxy Digital Inc. $GLXY Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its holdings in Galaxy Digital Inc. (NASDAQ:GLXY) by 33.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 578,704 shares of the company’s stock after selling 293,477 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Galaxy Digital were worth $10,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors purchased a new stake in Galaxy Digital during the 4th quarter worth $406,102,000. Vanguard Group Inc. increased its holdings in Galaxy Digital by 27.5% in the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock valued at $462,310,000 after purchasing an additional 4,463,782 shares in the last quarter. Invesco Ltd. purchased a new position in Galaxy Digital in the second quarter valued at about $53,233,000. Tidal Investments LLC purchased a new position in Galaxy Digital in the second quarter valued at about $48,452,000. Finally, Norges Bank acquired a new position in shares of Galaxy Digital during the fourth quarter worth about $32,045,000.

Insiders Place Their Bets

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the sale, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. The trade was a 14.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 51.53% of the stock is currently owned by company insiders.

Galaxy Digital Stock Down 2.4%

Shares of NASDAQ GLXY opened at $21.01 on Friday. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of -43.77 and a beta of 4.84. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s 50-day simple moving average is $27.32 and its 200-day simple moving average is $25.48.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. The firm 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 period in the prior year, the company posted ($0.86) EPS. As a group, equities analysts anticipate that Galaxy Digital Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BTIG Research reaffirmed a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a research report on Thursday, May 21st. Morgan Stanley reissued an “overweight” rating and set a $37.00 price target on shares of Galaxy Digital in a research report on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Galaxy Digital in a report on Friday, May 1st. Zacks Research downgraded shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Finally, The Goldman Sachs Group dropped their price objective 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. Ten research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.58.

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.