Galaxy Digital (NASDAQ:GLXY - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $33.00 price objective on the stock. Canaccord Genuity Group's target price indicates a potential upside of 51.72% from the company's current price.
GLXY has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Galaxy Digital to a "sell" rating in a report on Saturday, May 24th. HC Wainwright upgraded Galaxy Digital to a "strong-buy" rating in a research report on Friday, May 16th. Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, Rosenblatt Securities started coverage on shares of Galaxy Digital in a research report on Tuesday, June 24th. They set a "buy" rating and a $25.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Galaxy Digital has a consensus rating of "Buy" and a consensus target price of $29.00.
View Our Latest Report on GLXY
Galaxy Digital Stock Performance
Shares of NASDAQ:GLXY traded down $0.47 during midday trading on Thursday, hitting $21.75. 3,737,516 shares of the stock were exchanged, compared to its average volume of 1,776,060. Galaxy Digital has a 12 month low of $6.89 and a 12 month high of $26.60.
Insiders Place Their Bets
In related news, CEO Michael Novogratz sold 4,380,967 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $18.10, for a total transaction of $79,295,502.70. Following the transaction, the chief executive officer owned 348,921 shares in the company, valued at $6,315,470.10. The trade was a 92.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher C. Ferraro sold 1,250,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $22,625,000.00. Following the completion of the sale, the insider owned 1,437,921 shares of the company's stock, valued at $26,026,370.10. The trade was a 46.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,668,671 shares of company stock worth $175,359,900.
About Galaxy Digital
(
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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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