Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) shares shot up 6.6% during mid-day trading on Friday . The company traded as high as $21.82 and last traded at $21.76. 1,511,192 shares were traded during mid-day trading, a decline of 20% from the average session volume of 1,882,156 shares. The stock had previously closed at $20.41.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on GLXY shares. Canaccord Genuity Group restated a "buy" rating and set a $33.00 target price on shares of Galaxy Digital in a research report on Thursday, July 3rd. Wall Street Zen upgraded shares of Galaxy Digital to a "sell" rating in a research note on Saturday, May 24th. HC Wainwright upgraded Galaxy Digital to a "strong-buy" rating in a research note on Friday, May 16th. Rosenblatt Securities initiated coverage on Galaxy Digital in a report on Tuesday, June 24th. They issued a "buy" rating and a $25.00 target price on the stock. Finally, Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $29.00.
Check Out Our Latest Analysis on Galaxy Digital
Galaxy Digital Stock Performance
Insider Activity
In related news, insider Christopher C. Ferraro sold 1,250,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $22,625,000.00. Following the completion of the sale, the insider owned 1,437,921 shares in the company, valued at approximately $26,026,370.10. This trade represents a 46.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Novogratz sold 4,380,967 shares of Galaxy Digital stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $18.10, for a total value of $79,295,502.70. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 9,668,671 shares of company stock valued at $175,359,900 over the last 90 days.
Institutional Investors Weigh In On Galaxy Digital
An institutional investor recently bought a new position in Galaxy Digital stock. AdvisorNet Financial Inc bought a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,720 shares of the company's stock, valued at approximately $125,000.
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.
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