Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 6,695,057 shares changed hands during trading, an increase of 146% from the previous session's volume of 2,724,900 shares.The stock last traded at $26.32 and had previously closed at $29.60.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Maxim Group assumed coverage on shares of Galaxy Digital in a report on Thursday. They issued a "buy" rating and a $40.00 price target for the company. HC Wainwright upgraded shares of Galaxy Digital to a "strong-buy" rating in a report on Friday, May 16th. Rosenblatt Securities boosted their price target on shares of Galaxy Digital from $25.00 to $36.00 and gave the company a "buy" rating in a report on Friday, July 25th. Atb Cap Markets upgraded shares of Galaxy Digital to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $33.00 price target on shares of Galaxy Digital in a report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.
Get Our Latest Report on GLXY
Galaxy Digital Stock Performance
The firm has a 50-day moving average of $22.14.
Insider Activity
In other news, insider Christopher C. Ferraro sold 1,250,000 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $18.10, for a total value of $22,625,000.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Erin Elizabeth Brown sold 353,956 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $6,406,603.60. Following the completion of the transaction, the chief operating officer directly owned 198,088 shares in the company, valued at approximately $3,585,392.80. The trade was a 64.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,668,671 shares of company stock worth $175,359,900 in the last quarter.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Sullivan Wood Capital Management LLC acquired a new stake in Galaxy Digital in the 2nd quarter worth approximately $26,699,000. Envestnet Asset Management Inc. acquired a new stake in Galaxy Digital in the 2nd quarter worth approximately $1,948,000. CORDA Investment Management LLC. acquired a new stake in Galaxy Digital in the 2nd quarter worth approximately $1,159,000. RFG Advisory LLC acquired a new stake in Galaxy Digital in the 2nd quarter worth approximately $898,000. Finally, Vontobel Holding Ltd. acquired a new stake in Galaxy Digital in the 2nd quarter worth approximately $766,000.
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.
Featured Articles
Before you consider Galaxy Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Galaxy Digital wasn't on the list.
While Galaxy Digital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
