Insider Selling: Galaxy Digital (NASDAQ:GLXY) Director Sells 33,333 Shares of Stock

Key Points

• Galaxy Digital's Director, Rhonda Adams, sold 33,333 shares at an average price of $29.83, totaling approximately $994,323.39, representing a 22.93% decrease in her ownership.
• On Monday, Galaxy Digital's stock reached $30.77, with a recent trading volume of 7,848,846 shares, surpassing its average volume of 3,885,732.
• The company's latest quarterly earnings reported $0.08 EPS, exceeding expectations, with a revenue of $8.66 billion, below the estimated $13.11 billion.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Medina Rhonda Adams sold 33,333 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $29.83, for a total value of $994,323.39. Following the transaction, the director owned 112,053 shares in the company, valued at $3,342,540.99. This trade represents a 22.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Galaxy Digital Stock Performance

GLXY traded up $1.07 during trading hours on Monday, hitting $30.77. 7,848,846 shares of the stock were exchanged, compared to its average volume of 3,885,732. The stock has a 50-day simple moving average of $25.81. Galaxy Digital Inc. has a 12 month low of $8.20 and a 12 month high of $33.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GLXY. BTIG Research reaffirmed a "buy" rating and issued a $35.00 target price on shares of Galaxy Digital in a research report on Tuesday, August 5th. Rosenblatt Securities lowered their price target on Galaxy Digital from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group started coverage on Galaxy Digital in a report on Thursday, July 31st. They set a "neutral" rating and a $30.00 price target on the stock. Atb Cap Markets raised Galaxy Digital to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, Jefferies Financial Group assumed coverage on Galaxy Digital in a report on Wednesday, July 23rd. They set a "buy" rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $35.63.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GLXY. CWM LLC bought a new position in shares of Galaxy Digital during the 2nd quarter valued at about $26,000. Manchester Capital Management LLC purchased a new stake in Galaxy Digital in the 2nd quarter worth about $32,000. Centerpoint Advisors LLC purchased a new stake in Galaxy Digital in the 2nd quarter worth about $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in Galaxy Digital in the 2nd quarter worth about $34,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Galaxy Digital during the second quarter worth approximately $37,000.

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.

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