Galaxy Digital Inc. Buys New Stake in Bullish $BLSH

Key Points

• Galaxy Digital disclosed a new stake in Bullish, buying 625,000 shares worth about $22.3 million. The position makes Bullish its 7th-largest holding and about 1.9% of the portfolio.
• Wall Street sentiment on Bullish is mixed, with analysts holding a consensus rating of “Hold” and an average price target of $50.67. Recent calls ranged from bullish price-target increases to JPMorgan cutting its target to $26.
• Bullish reported Q1 earnings of $0.13 per share, missing estimates, even as revenue rose 48.8% year over year to $92.83 million. Shares were trading near $24, far below the stock’s 12-month high of $118.

Galaxy Digital Inc. purchased a new position in shares of Bullish (NYSE:BLSH - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 625,000 shares of the company's stock, valued at approximately $22,331,000. Bullish makes up 1.9% of Galaxy Digital Inc.'s portfolio, making the stock its 7th biggest holding. Galaxy Digital Inc. owned about 0.41% of Bullish at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BLSH. ARK Investment Management LLC grew its holdings in shares of Bullish by 87.1% during the fourth quarter. ARK Investment Management LLC now owns 4,821,700 shares of the company's stock worth $182,598,000 after purchasing an additional 2,244,991 shares during the last quarter. Amova Asset Management Americas Inc. lifted its holdings in shares of Bullish by 51.9% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company's stock valued at $137,139,000 after purchasing an additional 1,311,243 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Bullish by 51.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company's stock valued at $136,985,000 after purchasing an additional 1,304,573 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Bullish in the 3rd quarter valued at about $74,658,000. Finally, UBS Group AG boosted its position in shares of Bullish by 486.1% in the 4th quarter. UBS Group AG now owns 1,309,248 shares of the company's stock valued at $49,581,000 after purchasing an additional 1,085,846 shares during the period.

Wall Street Analyst Weigh In

Several research firms have commented on BLSH. Rosenblatt Securities lifted their price target on Bullish from $39.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 13th. Cantor Fitzgerald increased their price objective on Bullish from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, May 15th. JPMorgan Chase & Co. lowered their target price on shares of Bullish from $43.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $61.00 price target on shares of Bullish in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Bullish from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $50.67.

Insider Buying and Selling

In other news, CEO Thomas W. Farley sold 80,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $43.95, for a total value of $3,516,000.00. Following the completion of the sale, the chief executive officer owned 80,000 shares in the company, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Trending Headlines about Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Canaccord Genuity reiterated a Buy rating on Bullish and kept its $50 price target, citing confidence in the company’s tokenization strategy and stablecoin growth. Article: Bullish Buy Rating Reiterated as Tokenization Strategy and Stablecoin Growth Support Unchanged $50 Price Target
• Positive Sentiment: Bullish announced progress on its planned $4.2 billion acquisition of Equiniti, including competition-law clearances in the UK, U.S., and Germany, which reduces regulatory risk and supports the long-term tokenized securities strategy. Article: Bullish announces Siris to acquire non-core Equiniti business lines
• Neutral Sentiment: Siris also agreed to retain Equiniti’s non-core businesses, while the main Bullish-Equiniti deal remains subject to remaining approvals and is expected to close in January 2027. This keeps the strategic deal on track, but completion is still not final. Article: Siris retains UK businesses as Equiniti sold to Bullish in $4.2B deal
• Negative Sentiment: Zacks added BLSH to its Strong Sell list, which likely added downside pressure as investors weigh caution from the ranking service. Article: New Strong Sell Stocks for July 24th
• Negative Sentiment: Broader sentiment may also be weighed down by ongoing concerns about Bullish’s fundamentals and execution, including recent earnings that missed expectations and prior insider selling activity referenced in market data.

Bullish Trading Down 1.0%

Shares of BLSH stock opened at $24.00 on Friday. The company has a market capitalization of $3.62 billion and a P/E ratio of -3.66. The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $27.44 and its two-hundred day moving average is $33.46. Bullish has a twelve month low of $21.76 and a twelve month high of $118.00.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The company had revenue of $92.83 million for the quarter. Bullish's revenue was up 48.8% on a year-over-year basis. Equities analysts forecast that Bullish will post 0.54 EPS for the current year.

Bullish Company Profile

Bullish NYSE: BLSH is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm's stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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