Galaxy Digital (NASDAQ:GLXY) Stock Price Down 6.3% - Time to Sell?

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report)'s stock price was down 6.3% during mid-day trading on Monday . The stock traded as low as $20.16 and last traded at $20.39. Approximately 827,864 shares changed hands during trading, a decline of 53% from the average daily volume of 1,765,034 shares. The stock had previously closed at $21.75.

Analyst Ratings Changes

GLXY has been the subject of several research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $33.00 price objective on shares of Galaxy Digital in a research report on Thursday, July 3rd. Atb Cap Markets raised Galaxy Digital to a "strong-buy" rating in a research report on Tuesday, May 20th. Rosenblatt Securities initiated coverage on Galaxy Digital in a research report on Tuesday, June 24th. They issued a "buy" rating and a $25.00 price objective for the company. HC Wainwright raised Galaxy Digital to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Galaxy Digital to a "sell" rating in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Galaxy Digital currently has an average rating of "Buy" and an average target price of $29.00.

Galaxy Digital Price Performance

Insider Buying and Selling

In other news, General Counsel Andrew N. Siegel sold 223,169 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total value of $4,039,358.90. Following the transaction, the general counsel owned 479,896 shares in the company, valued at $8,686,117.60. The trade was a 31.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher C. Ferraro sold 1,250,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total value of $22,625,000.00. Following the completion of the transaction, the insider owned 1,437,921 shares in the company, valued at $26,026,370.10. The trade was a 46.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,668,671 shares of company stock worth $175,359,900 over the last 90 days.

About Galaxy Digital

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.