Galaxy Digital (NASDAQ:GLXY) Director Purchases $69,900.00 in Stock

Key Points

• Director Douglas Deason bought 5,000 Galaxy Digital shares at $13.98 each, spending $69,900. The purchase increased his holdings by 7.04% to 76,000 shares.
• Galaxy Digital reported quarterly EPS of $0.83, beating the $0.29 consensus estimate; revenue was $8.69 billion. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $33.96.
• Shares traded at $14.11 in Tuesday’s midday session, down $0.40, and were below their 50-day and 200-day moving averages.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Douglas Deason purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average price of $13.98 per share, for a total transaction of $69,900.00. Following the purchase, the director owned 76,000 shares in the company, valued at $1,062,480. This trade represents a 7.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Galaxy Digital Stock Performance

GLXY stock traded down $0.40 during midday trading on Tuesday, reaching $14.11. 6,356,857 shares of the company were exchanged, compared to its average volume of 6,578,936. Galaxy Digital Inc. has a one year low of $11.78 and a one year high of $36.10. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -14.11 and a beta of 5.38. The business has a 50-day moving average price of $20.69 and a two-hundred day moving average price of $23.72. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.54. The company had revenue of $8.69 billion for the quarter. Galaxy Digital had a negative net margin of 0.89% and a negative return on equity of 10.30%. Equities research analysts forecast that Galaxy Digital Inc. will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLXY. State Street Corp grew its stake in Galaxy Digital by 99.7% in the 2nd quarter. State Street Corp now owns 3,833,993 shares of the company's stock valued at $104,821,000 after purchasing an additional 1,913,688 shares during the period. Moore Capital Management LP grew its position in shares of Galaxy Digital by 52.9% during the 2nd quarter. Moore Capital Management LP now owns 2,082,250 shares of the company's stock valued at $56,929,000 after purchasing an additional 720,000 shares in the last quarter. Sullivan Wood Capital Management LLC increased its stake in Galaxy Digital by 4.0% in the 3rd quarter. Sullivan Wood Capital Management LLC now owns 1,460,546 shares of the company's stock worth $33,213,000 after acquiring an additional 55,804 shares during the last quarter. Bank of America Corp DE grew its stake in Galaxy Digital by 112.4% in the 2nd quarter. Bank of America Corp DE now owns 1,145,172 shares of the company's stock worth $31,309,000 after buying an additional 605,986 shares in the last quarter. Finally, AWM Investment Company Inc. purchased a new position in shares of Galaxy Digital in the 2nd quarter worth about $12,221,000.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research raised Galaxy Digital from a "strong sell" rating to a "hold" rating in a research report on Friday, September 18th. Weiss Ratings cut shares of Galaxy Digital from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 23rd. Morgan Stanley cut their price objective on shares of Galaxy Digital from $43.00 to $27.00 and set an "overweight" rating for the company in a report on Monday. Maxim Group decreased their target price on shares of Galaxy Digital from $46.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $50.00 price target on shares of Galaxy Digital in a research report on Wednesday, October 28th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Galaxy Digital presently has an average rating of "Moderate Buy" and a consensus target price of $33.96.

About Galaxy Digital

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Its businesses include trading and other financial services for institutions, investment and asset management, and digital infrastructure, including data center and bitcoin mining operations. Founded in 2018 by Michael Novogratz, the company serves institutional clients and investors in the United States and other markets. Novogratz is Galaxy's founder and chief executive officer.

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