Galaxy Digital Inc. $GLXY Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management boosted its stake in Galaxy Digital by 184.4% in Q4, acquiring an additional 52,334 shares to hold 80,708 shares worth about $1.808 million.
• Galaxy reported quarterly EPS of -$0.49 (beating estimates of -$0.59) on $7.35 billion in revenue; the stock trades near $29.17 with a market cap of $11.35 billion and a negative P/E of -60.77.
• Director Douglas Deason bought 25,000 shares at $20.80 and insiders now own 51.53% of the company, while analysts give a consensus rating of Moderate Buy with an average target of $39.50.

Pictet Asset Management Holding SA grew its holdings in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) by 184.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,708 shares of the company's stock after buying an additional 52,334 shares during the quarter. Pictet Asset Management Holding SA's holdings in Galaxy Digital were worth $1,808,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. SG Americas Securities LLC boosted its stake in shares of Galaxy Digital by 173.8% during the fourth quarter. SG Americas Securities LLC now owns 252,558 shares of the company's stock valued at $5,647,000 after acquiring an additional 160,305 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Galaxy Digital by 15.5% during the third quarter. Vanguard Group Inc. now owns 16,206,111 shares of the company's stock valued at $547,950,000 after acquiring an additional 2,179,540 shares during the last quarter. Rovida Investment Management Ltd boosted its stake in shares of Galaxy Digital by 21.2% during the third quarter. Rovida Investment Management Ltd now owns 1,861,200 shares of the company's stock valued at $62,890,000 after acquiring an additional 325,000 shares during the last quarter. Capelight Capital Asset Management LP acquired a new stake in shares of Galaxy Digital during the fourth quarter valued at $4,025,000. Finally, Polianta Ltd acquired a new stake in shares of Galaxy Digital during the fourth quarter valued at $1,379,000.

Galaxy Digital Stock Up 3.8%

Shares of NASDAQ:GLXY opened at $29.17 on Tuesday. The stock's 50-day moving average price is $22.01 and its two-hundred day moving average price is $25.89. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.80. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92. The firm has a market cap of $11.35 billion and a price-to-earnings ratio of -60.77.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.27% and a negative net margin of 0.54%.The firm had revenue of $7.35 billion for the quarter. During the same period in the previous year, the business posted ($0.86) earnings per share. On average, research analysts forecast that Galaxy Digital Inc. will post -0.76 EPS for the current year.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason purchased 25,000 shares of the firm's stock in a transaction on Wednesday, February 4th. The shares were purchased at an average cost of $20.80 per share, with a total value of $520,000.00. Following the purchase, the director owned 59,000 shares in the company, valued at approximately $1,227,200. This represents a 73.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 51.53% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on GLXY shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $39.00 price objective on shares of Galaxy Digital in a research note on Thursday, April 23rd. BTIG Research reaffirmed a "buy" rating and set a $50.00 price objective on shares of Galaxy Digital in a research note on Tuesday, April 28th. Citigroup increased their price objective on Galaxy Digital from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, March 18th. Wall Street Zen raised Galaxy Digital from a "strong sell" rating to a "sell" rating in a research note on Saturday. Finally, Chardan Capital reaffirmed a "buy" rating and set a $35.00 price objective on shares of Galaxy Digital in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Galaxy Digital has a consensus rating of "Moderate Buy" and an average price target of $39.50.

Galaxy Digital 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.

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