Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $28.42, but opened at $26.07. Galaxy Digital shares last traded at $26.47, with a volume of 2,387,971 shares changing hands.
Wall Street Analyst Weigh In
GLXY has been the topic of several analyst reports. Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group began coverage on shares of Galaxy Digital in a research report on Thursday. They issued a "neutral" rating and a $30.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Galaxy Digital in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $35.00 price objective on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $33.00 price objective on shares of Galaxy Digital in a research report on Thursday, July 3rd. Finally, Rosenblatt Securities upped their price objective on shares of Galaxy Digital from $25.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.
Read Our Latest Stock Report on GLXY
Galaxy Digital Price Performance
The company's 50 day moving average is $22.22.
Insiders Place Their Bets
In related news, CEO Michael Novogratz sold 4,380,967 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $18.10, for a total value of $79,295,502.70. Following the completion of the sale, the chief executive officer owned 348,921 shares of the company's stock, valued at $6,315,470.10. This trade represents a 92.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher C. Ferraro sold 1,250,000 shares of the firm's stock in a transaction 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 sale, the insider directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 9,668,671 shares of company stock worth $175,359,900.
Institutional Trading of Galaxy Digital
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sullivan Wood Capital Management LLC bought a new position in Galaxy Digital in the second quarter worth $26,699,000. Milestone Asset Management Group LLC bought a new position in Galaxy Digital in the second quarter worth $5,972,000. Envestnet Asset Management Inc. bought a new position in Galaxy Digital in the second quarter worth $1,948,000. CORDA Investment Management LLC. bought a new position in Galaxy Digital in the second quarter worth $1,159,000. Finally, RFG Advisory LLC bought a new position in Galaxy Digital in the second quarter worth $898,000.
About Galaxy Digital
(
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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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