Galaxy Digital (NASDAQ:GLXY - Get Free Report)'s share price dropped 5.1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $19.75 and last traded at $19.87. Approximately 1,880,946 shares traded hands during mid-day trading, an increase of 95% from the average daily volume of 962,453 shares. The stock had previously closed at $20.93.
Specifically, CEO Michael Novogratz sold 4,380,967 shares of the company's stock in a transaction dated 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 now owns 348,921 shares in the company, valued at $6,315,470.10. This 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.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Galaxy Digital to a "sell" rating in a research note on Saturday, May 24th. Atb Cap Markets raised shares of Galaxy Digital to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, HC Wainwright raised Galaxy Digital to a "strong-buy" rating in a research report on Friday, May 16th.
Check Out Our Latest Research Report on Galaxy Digital
Galaxy Digital Stock Performance
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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