Galaxy Digital (NASDAQ:GLXY - Get Free Report) released its earnings results on Tuesday. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14, Zacks reports. The company had revenue of $8.66 billion during the quarter, compared to analysts' expectations of $13.11 billion.
Galaxy Digital Price Performance
GLXY stock traded up $0.53 during trading on Thursday, reaching $27.87. The stock had a trading volume of 7,293,162 shares, compared to its average volume of 3,083,622. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $33.17. The company has a fifty day moving average of $22.59.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Canaccord Genuity Group boosted their price objective on Galaxy Digital from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday. HC Wainwright upgraded Galaxy Digital to a "strong-buy" rating in a report on Friday, May 16th. Atb Cap Markets raised shares of Galaxy Digital to a "strong-buy" rating in a report on Tuesday, May 20th. BTIG Research reiterated a "buy" rating and set a $35.00 price target on shares of Galaxy Digital in a research report on Tuesday. Finally, Maxim Group started coverage on Galaxy Digital in a report on Thursday, July 31st. They issued a "buy" rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Galaxy Digital presently has a consensus rating of "Buy" and a consensus target price of $35.63.
Check Out Our Latest Research Report on GLXY
Insider Activity at Galaxy Digital
In other Galaxy Digital news, insider Christopher C. Ferraro sold 1,250,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $18.10, for a total transaction of $22,625,000.00. Following the sale, the insider directly owned 1,437,921 shares of the company's stock, valued at approximately $26,026,370.10. This represents a 46.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Novogratz sold 4,380,967 shares of Galaxy Digital stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $18.10, for a total value of $79,295,502.70. Following the sale, the chief executive officer directly owned 348,921 shares in the company, valued at approximately $6,315,470.10. This trade represents a 92.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,668,671 shares of company stock valued at $175,359,900 in the last 90 days.
About Galaxy Digital
(
Get Free Report)
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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