Signature Estate & Investment Advisors LLC Takes $251,000 Position in Galaxy Digital Inc. $GLXY

Key Points

• Signature Estate & Investment Advisors LLC has acquired a new position in Galaxy Digital Inc. valued at approximately $251,000 by purchasing 11,442 shares during the 2nd quarter.
• Analysts have a positive outlook on Galaxy Digital, with several firms, including Maxim Group and BTIG Research, giving the stock a "buy" rating and setting a target price range between $40.00 and $50.00.
• Recent insider activity reflects significant stock sales by executives, with Director Richard Tavoso selling 50,000 shares and COO Erin Elizabeth Brown selling 350,000 shares, indicating potential shifts in investor confidence.

Signature Estate & Investment Advisors LLC purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,442 shares of the company's stock, valued at approximately $251,000.

Several other large investors have also made changes to their positions in the company. RFG Advisory LLC acquired a new position in shares of Galaxy Digital during the second quarter valued at $898,000. Sage Advisors LLC acquired a new position in shares of Galaxy Digital during the second quarter valued at $256,000. Sequoia Financial Advisors LLC acquired a new position in shares of Galaxy Digital during the second quarter valued at $342,000. CWM LLC acquired a new position in shares of Galaxy Digital during the second quarter valued at $26,000. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Galaxy Digital during the second quarter valued at $299,000.

Analysts Set New Price Targets

GLXY has been the topic of several research reports. Maxim Group initiated coverage on Galaxy Digital in a research note on Thursday, July 31st. They set a "buy" rating and a $40.00 price target on the stock. Wall Street Zen raised Galaxy Digital from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Benchmark upped their price target on Galaxy Digital from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Jefferies Financial Group began coverage on Galaxy Digital in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $35.00 target price on the stock. Finally, BTIG Research raised their target price on Galaxy Digital from $35.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Galaxy Digital presently has a consensus rating of "Buy" and an average target price of $40.50.

Galaxy Digital Stock Performance

Shares of GLXY opened at $42.86 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28. Galaxy Digital Inc. has a 1 year low of $8.20 and a 1 year high of $45.92. The stock's 50-day moving average is $31.43.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14. The company had revenue of $8.66 billion for the quarter, compared to the consensus estimate of $13.11 billion.

Insider Activity at Galaxy Digital

In other news, Director Richard Tavoso sold 50,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $28.28, for a total transaction of $1,414,000.00. Following the sale, the director owned 400,000 shares of the company's stock, valued at $11,312,000. This trade represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Erin Elizabeth Brown sold 350,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total value of $9,443,000.00. Following the sale, the chief operating officer directly owned 198,088 shares in the company, valued at approximately $5,344,414.24. This represents a 63.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,183,333 shares of company stock valued at $146,851,323 over the last 90 days.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.

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