Galaxy Digital Inc. (NASDAQ:GLXY) Given Average Rating of "Buy" by Analysts

Key Points

• Galaxy Digital Inc. has an average rating of "Buy" from analysts, with two holding ratings, seven buy ratings, and two strong buy ratings, as per Marketbeat Ratings.
• The company's average 12-month target price set by brokerages is $36.38, with shares currently trading around $36.16.
• Recent insider transactions showed significant share sales, with insiders liquidating 433,333 shares valued at over $11.85 million in the last 90 days.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) has received an average rating of "Buy" from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $36.3750.

Several equities research analysts recently commented on GLXY shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Galaxy Digital in a report on Saturday, September 27th. BTIG Research reissued a "buy" rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Tuesday, August 5th. The Goldman Sachs Group started coverage on shares of Galaxy Digital in a report on Thursday, July 31st. They issued a "neutral" rating and a $30.00 price target for the company. Rosenblatt Securities cut their price target on shares of Galaxy Digital from $36.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Galaxy Digital from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, August 7th.

Galaxy Digital Stock Down 1.0%

NASDAQ:GLXY opened at $36.16 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The company's 50 day moving average price is $28.45. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $37.67.

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

Insider Transactions at Galaxy Digital

In other news, Director Medina Rhonda Adams sold 33,333 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $29.83, for a total transaction of $994,323.39. Following the completion of the sale, the director owned 112,053 shares of the company's stock, valued at $3,342,540.99. This represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Erin Elizabeth Brown sold 350,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the sale, the chief operating officer directly owned 198,088 shares of the company's stock, valued at $5,344,414.24. The trade was a 63.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 433,333 shares of company stock valued at $11,851,323 over the last 90 days.

Institutional Investors Weigh In On Galaxy Digital

A number of large investors have recently modified their holdings of GLXY. Harbour Capital Advisors LLC purchased a new stake in shares of Galaxy Digital during the second quarter worth $349,000. AdvisorNet Financial Inc purchased a new stake in shares of Galaxy Digital during the second quarter worth $125,000. SJS Investment Consulting Inc. purchased a new stake in shares of Galaxy Digital during the second quarter worth $77,000. Accurate Wealth Management LLC purchased a new stake in shares of Galaxy Digital during the second quarter worth $440,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Galaxy Digital during the 2nd quarter valued at about $79,000.

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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