Erin Elizabeth Brown Sells 350,000 Shares of Galaxy Digital Inc. (NASDAQ:GLXY) Stock

Key Points

• Erin Elizabeth Brown, COO of Galaxy Digital, sold 350,000 shares at an average price of $26.98, totaling approximately $9.44 million, which reduced her ownership by 63.86%.
• Galaxy Digital's most recent earnings report indicated an EPS of $0.08, surpassing analysts' expectations, but with revenues of $8.66 billion falling short of the estimated $13.11 billion.
• Analysts have varied opinions on Galaxy Digital, with firm ratings ranging from "neutral" to "strong buy", and an average consensus target price of $35.63.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) COO Erin Elizabeth Brown sold 350,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total value of $9,443,000.00. Following the sale, the chief operating officer directly owned 198,088 shares of the company's stock, valued at approximately $5,344,414.24. This represents a 63.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Erin Elizabeth Brown also recently made the following trade(s):

• On Thursday, May 29th, Erin Elizabeth Brown sold 353,956 shares of Galaxy Digital stock. The stock was sold at an average price of $18.10, for a total value of $6,406,603.60.
• On Tuesday, May 20th, Erin Elizabeth Brown sold 87,704 shares of Galaxy Digital stock. The shares were sold at an average price of $22.17, for a total value of $1,944,397.68.

Galaxy Digital Stock Up 4.5%

NASDAQ:GLXY traded up $1.25 during mid-day trading on Wednesday, reaching $29.15. The company's stock had a trading volume of 3,350,757 shares, compared to its average volume of 3,238,885. The stock's fifty day moving average price is $23.33. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28. Galaxy Digital Inc. has a twelve month low of $8.20 and a twelve month high of $33.17.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to analyst estimates of $13.11 billion.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GLXY. HC Wainwright upgraded Galaxy Digital to a "strong-buy" rating in a research report on Friday, May 16th. Wall Street Zen upgraded Galaxy Digital to a "sell" rating in a research report on Friday, July 18th. The Goldman Sachs Group initiated coverage on Galaxy Digital in a research report on Thursday, July 31st. They set a "neutral" rating and a $30.00 price objective for the company. BTIG Research reiterated a "buy" rating and set a $35.00 price objective on shares of Galaxy Digital in a research report on Tuesday, August 5th. Finally, Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued 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 "Moderate Buy" and an average price target of $35.63.

Institutional Investors Weigh In On Galaxy Digital

Hedge funds have recently modified their holdings of the stock. Concurrent Investment Advisors LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $299,000. IFP Advisors Inc purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $84,000. RFG Advisory LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $898,000. Vontobel Holding Ltd. purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $766,000. Finally, Sage Advisors LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $256,000.

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.