Dragoneer Investment Group LLC Makes New $38.82 Million Investment in Gemini Space Station, Inc. $GEMI

Key Points

• Dragoneer Investment Group acquired 1,620,000 shares of Gemini Space Station in Q3, a new stake valued at about $38.82 million, representing 0.9% of Dragoneer’s portfolio and roughly 1.38% ownership of GEMI.
• Director Sachin Chand Jaitly sold 39,708 shares on March 11 at an average price of $8.92, totaling about $354,195, according to an SEC filing.
• GEMI opened at $7.76, trades in a 52‑week range of $5.57–$45.89 with a market cap near $913 million and a negative P/E, and the consensus analyst rating is Hold with an average target of $16.68 after several recent price-target cuts.

Dragoneer Investment Group LLC acquired a new stake in shares of Gemini Space Station, Inc. (NASDAQ:GEMI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,620,000 shares of the company's stock, valued at approximately $38,815,000. Gemini Space Station accounts for 0.9% of Dragoneer Investment Group LLC's portfolio, making the stock its 18th biggest position. Dragoneer Investment Group LLC owned approximately 1.38% of Gemini Space Station as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Gemini Space Station during the 3rd quarter worth about $51,000. Man Group plc acquired a new position in Gemini Space Station in the third quarter valued at about $201,000. Sandia Investment Management LP acquired a new position in Gemini Space Station in the third quarter valued at about $228,000. Ground Swell Capital LLC bought a new stake in Gemini Space Station during the third quarter worth about $229,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Gemini Space Station during the third quarter worth approximately $248,000.

Insider Buying and Selling at Gemini Space Station

In other news, Director Sachin Chand Jaitly sold 39,708 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $8.92, for a total value of $354,195.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Gemini Space Station Price Performance

Shares of NASDAQ GEMI opened at $7.76 on Friday. Gemini Space Station, Inc. has a fifty-two week low of $5.57 and a fifty-two week high of $45.89. The firm has a market capitalization of $912.96 million and a price-to-earnings ratio of -4.29. The firm has a 50 day simple moving average of $8.45.

Analyst Ratings Changes

GEMI has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $8.00 target price (down from $14.00) on shares of Gemini Space Station in a report on Wednesday, February 18th. Weiss Ratings reiterated a "sell (d)" rating on shares of Gemini Space Station in a research report on Monday, December 29th. Mizuho reduced their price objective on Gemini Space Station from $30.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 24th. Truist Financial lowered Gemini Space Station from a "buy" rating to a "hold" rating and set a $7.00 target price for the company. in a research note on Tuesday, February 17th. Finally, Needham & Company LLC reduced their price target on shares of Gemini Space Station from $23.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Gemini Space Station currently has a consensus rating of "Hold" and an average target price of $16.68.

About Gemini Space Station

Our mission is to unlock the next era of financial, creative, and personal freedom. Gemini envisions a future where crypto will redesign the global financial system, the internet, and money in a way that provides greater choice, independence, and opportunity for all. As a trusted bridge between the traditional financial system and the emerging cryptoeconomy, we are providing access for individuals and institutions to a decentralized future that is more open, fair, and secure. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.

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