Vanguard Group Inc. Buys 2,179,540 Shares of Galaxy Digital Inc. $GLXY

Vanguard Group Inc. increased its stake in Galaxy Digital Inc. (NASDAQ:GLXY) by 15.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,206,111 shares of the company’s stock after purchasing an additional 2,179,540 shares during the period. Vanguard Group Inc. owned approximately 4.31% of Galaxy Digital worth $547,950,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC grew its holdings in shares of Galaxy Digital by 1,110.0% during the 3rd quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after purchasing an additional 888 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of Galaxy Digital in the 3rd quarter valued at $34,000. CWM LLC acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at about $26,000. Manchester Capital Management LLC bought a new stake in shares of Galaxy Digital in the 2nd quarter valued at $32,000. Finally, Centerpoint Advisors LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter valued at $33,000.

Insider Activity at Galaxy Digital

In related news, Director Douglas R. Deason purchased 25,000 shares of Galaxy Digital stock in a transaction dated Wednesday, February 4th. The stock was bought at an average cost 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 in the company, valued at $1,227,200. This trade represents a 73.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citizens Jmp reiterated a “market outperform” rating and issued a $60.00 price target on shares of Galaxy Digital in a report on Wednesday, February 4th. Cantor Fitzgerald lowered 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. The Goldman Sachs Group cut their target price on Galaxy Digital from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. HC Wainwright decreased their price target on shares of Galaxy Digital from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.00.

Galaxy Digital Price Performance

Galaxy Digital stock opened at $21.54 on Wednesday. The business’s 50 day simple moving average is $25.13 and its 200 day simple moving average is $28.62. Galaxy Digital Inc. has a 12 month low of $8.20 and a 12 month high of $45.92. The company has a market cap of $8.41 billion and a price-to-earnings ratio of 179.50. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.24) by $0.16. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $13.08 billion.

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.