Galaxy Digital (NASDAQ:GLXY) Trading Down 5.1% - Time to Sell?

Galaxy Digital (NASDAQ:GLXY - Get Free Report) shares were down 5.1% on Tuesday . The stock 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on GLXY. HC Wainwright raised Galaxy Digital to a "strong-buy" rating in a research note on Friday, May 16th. Wall Street Zen raised Galaxy Digital to a "sell" rating in a research note on Saturday, May 24th. Finally, Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a report on Tuesday, May 20th.

Galaxy Digital Stock Performance

Insider Activity

In other news, General Counsel Andrew N. Siegel sold 223,169 shares of the firm's stock in a transaction dated 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 now directly owns 479,896 shares in the company, valued at $8,686,117.60. This trade represents a 31.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Erin Elizabeth Brown sold 87,704 shares of Galaxy Digital stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $22.17, for a total value of $1,944,397.68. Following the completion of the transaction, the chief operating officer now directly owns 402,591 shares in the company, valued at $8,925,442.47. This represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,668,671 shares of company stock valued at $175,359,900 in the last ninety days.

Galaxy Digital Company Profile

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.