Galaxy Digital Inc. $GLXY Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Galaxy Digital stake by 33.6% in the first quarter, selling 293,477 shares and retaining 578,704 shares valued at approximately $10.7 million.
• Analyst sentiment remains mixed but leans positive: Galaxy Digital has a consensus “Moderate Buy” rating and a $39.58 average price target, despite recent downgrades and target-price reductions.
• GLXY opened at $21.01, well below its $45.92 one-year high. Director Michael D. Daffey also sold 250,000 shares for about $7.2 million, while insiders retain a 51.53% ownership stake.

Arrowstreet Capital Limited Partnership reduced its position in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) by 33.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,704 shares of the company's stock after selling 293,477 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.15% of Galaxy Digital worth $10,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in Galaxy Digital by 183.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company's stock valued at $32,000 after purchasing an additional 928 shares during the last quarter. Picton Mahoney Asset Management raised its stake in shares of Galaxy Digital by 200.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company's stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Danske Bank A S acquired a new position in shares of Galaxy Digital during the 4th quarter worth $36,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Galaxy Digital in the 4th quarter worth about $46,000. Finally, Hollencrest Capital Management boosted its position in shares of Galaxy Digital by 204.0% in the 1st quarter. Hollencrest Capital Management now owns 2,584 shares of the company's stock worth $48,000 after buying an additional 1,734 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Galaxy Digital from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, July 17th. Weiss Ratings downgraded Galaxy Digital from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, May 26th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $39.00 target price on shares of Galaxy Digital in a research note on Thursday, April 23rd. Zacks Research cut Galaxy Digital from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price target on shares of Galaxy Digital in a research report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.58.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the completion of the sale, the director owned 1,505,419 shares in the company, valued at $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 available through this link. Insiders own 51.53% of the company's stock.

Galaxy Digital Stock Down 2.4%

GLXY stock opened at $21.01 on Friday. The company has a 50 day moving average price of $27.32 and a two-hundred day moving average price of $25.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $8.19 billion, a P/E ratio of -43.77 and a beta of 4.84. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92.

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 for the quarter, topping analysts' consensus estimates of ($0.59) by $0.10. The company had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period in the prior year, the company earned ($0.86) EPS. As a group, sell-side analysts expect that Galaxy Digital Inc. will post -0.24 EPS for the current year.

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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