Galaxy Digital (NASDAQ:GLXY) Sees Strong Trading Volume - Here's Why

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) saw an uptick in trading volume on Monday . 1,765,128 shares were traded during trading, an increase of 27% from the previous session's volume of 1,393,265 shares.The stock last traded at $19.01 and had previously closed at $18.86.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GLXY. HC Wainwright upgraded shares of 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 research note on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Galaxy Digital to a "sell" rating in a research report on Saturday, May 24th.

Galaxy Digital Stock Down 5.2%

Insider Transactions at Galaxy Digital

In other news, CEO Michael Novogratz sold 3,372,875 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $61,049,037.50. Following the completion of the sale, the chief executive officer now directly owns 348,921 shares of the company's stock, valued at $6,315,470.10. This trade represents a 90.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Erin Elizabeth Brown sold 87,704 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $22.17, for a total value of $1,944,397.68. Following the completion of the sale, the chief operating officer now directly owns 402,591 shares of the company's stock, valued at approximately $8,925,442.47. The trade was a 17.89% 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 over the last three months.

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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