Vontobel Holding Ltd. Takes Position in Galaxy Digital Inc. $GLXY

Key Points

• Vontobel Holding Ltd. acquired a new stake in Galaxy Digital, purchasing 34,969 shares valued at approximately $766,000 during the 2nd quarter of the year.
• Analysts have issued positive ratings for Galaxy Digital, with price targets ranging from $35.00 to $42.00; the consensus target price is currently $36.88.
• Insider selling has been significant, with Galaxy Digital's COO selling 350,000 shares for $9.44 million, resulting in a 63.86% decrease in their ownership in the company.

Vontobel Holding Ltd. acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,969 shares of the company's stock, valued at approximately $766,000.

Several other institutional investors have also added to or reduced their stakes in the business. DHJJ Financial Advisors Ltd. purchased a new stake in Galaxy Digital during the 2nd quarter worth about $34,000. SJS Investment Consulting Inc. purchased a new stake in shares of Galaxy Digital in the second quarter worth about $77,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Galaxy Digital in the second quarter worth about $79,000. AdvisorNet Financial Inc purchased a new stake in shares of Galaxy Digital in the second quarter worth about $125,000. Finally, Belpointe Asset Management LLC purchased a new stake in Galaxy Digital in the 2nd quarter worth approximately $280,000.

Galaxy Digital Price Performance

GLXY stock opened at $41.23 on Tuesday. Galaxy Digital Inc. has a 1 year low of $8.20 and a 1 year high of $44.33. The business has a 50-day moving average of $29.91. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on GLXY shares. BTIG Research reiterated a "buy" rating and issued a $35.00 target price on shares of Galaxy Digital in a research note on Tuesday, August 5th. Maxim Group assumed coverage on Galaxy Digital in a research report on Thursday, July 31st. They issued a "buy" rating and a $40.00 price objective on the stock. Canaccord Genuity Group raised their price target on Galaxy Digital from $33.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, August 7th. The Goldman Sachs Group raised their price target on Galaxy Digital from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Finally, Piper Sandler raised their price target on Galaxy Digital from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $36.88.

Insider Buying and Selling

In related news, COO Erin Elizabeth Brown sold 350,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the completion of the sale, the chief operating officer directly owned 198,088 shares in the company, valued at approximately $5,344,414.24. The trade was a 63.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Medina Rhonda Adams sold 33,333 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $29.83, for a total value of $994,323.39. Following the sale, the director directly owned 112,053 shares of the company's stock, valued at $3,342,540.99. This represents a 22.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,333 shares of company stock worth $11,851,323.

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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