Shares of Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $26.04, but opened at $27.71. Galaxy Digital shares last traded at $27.95, with a volume of 2,833,815 shares trading hands.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on GLXY shares. Piper Sandler upped their price target on shares of Galaxy Digital from $34.00 to $36.00 and gave the company an "overweight" rating in a research note on Monday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $33.00 price target on shares of Galaxy Digital in a research note on Thursday, July 3rd. Atb Cap Markets raised Galaxy Digital to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Galaxy Digital to a "sell" rating in a report on Friday. Finally, Rosenblatt Securities initiated coverage on Galaxy Digital in a research note on Tuesday, June 24th. They issued a "buy" rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Galaxy Digital presently has a consensus rating of "Buy" and an average target price of $31.33.
Read Our Latest Analysis on GLXY
Galaxy Digital Stock Performance
The firm has a 50-day moving average of $20.70.
Insider Transactions at Galaxy Digital
In related news, CEO Michael Novogratz sold 4,380,967 shares of the 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 transaction, the chief executive officer directly owned 348,921 shares in the company, valued at $6,315,470.10. This trade represents a 92.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Erin Elizabeth Brown sold 353,956 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total value of $6,406,603.60. Following the completion of the transaction, the chief operating officer owned 198,088 shares in the company, valued at approximately $3,585,392.80. This represents a 64.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,668,671 shares of company stock valued at $175,359,900 in the last 90 days.
Hedge Funds Weigh In On Galaxy Digital
Large investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in Galaxy Digital during the 2nd quarter valued at $79,000. Accurate Wealth Management LLC purchased a new stake in Galaxy Digital in the 2nd quarter worth about $440,000. SJS Investment Consulting Inc. purchased a new stake in Galaxy Digital in the 2nd quarter worth about $77,000. AdvisorNet Financial Inc purchased a new stake in Galaxy Digital in the 2nd quarter worth about $125,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Galaxy Digital in the 2nd quarter worth about $349,000.
Galaxy Digital Company Profile
(
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access Sale