Galaxy Digital (NASDAQ:GLXY) Sees Unusually-High Trading Volume - Still a Buy?

Galaxy Digital (NASDAQ:GLXY - Get Free Report) shares saw strong trading volume on Thursday . 1,818,283 shares were traded during mid-day trading, an increase of 80% from the previous session's volume of 1,009,444 shares.The stock last traded at $19.90 and had previously closed at $19.33.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GLXY shares. Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded Galaxy Digital to a "sell" rating in a research note on Saturday, May 24th. Finally, HC Wainwright upgraded Galaxy Digital to a "strong-buy" rating in a research note on Friday, May 16th.

Galaxy Digital Price Performance

Insider Activity at Galaxy Digital

In other news, COO Erin Elizabeth Brown sold 87,704 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $22.17, for a total value of $1,944,397.68. Following the completion of the transaction, the chief operating officer now directly owns 402,591 shares of the company's stock, valued at approximately $8,925,442.47. This represents a 17.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Novogratz sold 4,380,967 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 348,921 shares in the company, valued at $6,315,470.10. The trade was a 92.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,668,671 shares of company stock valued at $175,359,900.

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.