Galaxy Digital Inc. $GLXY Shares Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Galaxy Digital stake by 136.7% in the first quarter, acquiring 241,500 additional shares and bringing its holdings to 418,221 shares valued at approximately $7.7 million.
• Other major institutions, including Vanguard, Capital Research Global Investors, Invesco and Geode Capital Management, also expanded or initiated positions in Galaxy Digital. The stock opened at $21.88, while analysts maintain a “Moderate Buy” consensus with a $39.25 average price target.
• Insider activity was mixed: Director Michael D. Daffey sold 250,000 shares for roughly $7.2 million, reducing his position by 14.24%; insiders collectively own 51.53% of the company.

Renaissance Technologies LLC raised its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) by 136.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,221 shares of the company's stock after acquiring an additional 241,500 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Galaxy Digital worth $7,716,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Galaxy Digital by 27.5% in the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company's stock worth $462,310,000 after purchasing an additional 4,463,782 shares in the last quarter. Capital Research Global Investors acquired a new stake in Galaxy Digital in the fourth quarter worth about $406,102,000. Invesco Ltd. lifted its holdings in Galaxy Digital by 31.1% in the fourth quarter. Invesco Ltd. now owns 3,082,187 shares of the company's stock worth $68,918,000 after purchasing an additional 731,215 shares during the period. Geode Capital Management LLC grew its position in Galaxy Digital by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company's stock valued at $54,424,000 after buying an additional 279,818 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Galaxy Digital during the 2nd quarter valued at about $48,452,000.

Galaxy Digital Trading Up 4.1%

Shares of NASDAQ GLXY opened at $21.88 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The company has a market cap of $8.53 billion, a price-to-earnings ratio of -45.58 and a beta of 4.84. The business has a fifty day simple moving average of $27.18 and a 200-day simple moving average of $25.44.

Wall Street Analyst Weigh In

A number of analysts have commented on GLXY shares. Morgan Stanley restated an "overweight" rating and set a $37.00 price target on shares of Galaxy Digital in a research report on Wednesday, April 29th. Piper Sandler decreased their price objective on shares of Galaxy Digital from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Friday, July 17th. Citizens Jmp reiterated a "market outperform" rating and set a $55.00 price objective on shares of Galaxy Digital in a research note on Wednesday, April 29th. Zacks Research cut Galaxy Digital from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $50.00 target price on shares of Galaxy Digital in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.25.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the business's stock in a transaction dated 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 owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 51.53% of the company's stock.

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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