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

Galaxy Digital logo with Finance background

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.

Check Out Our Latest Stock Analysis on Galaxy Digital

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

(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.

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