Galaxy Digital (NASDAQ:GLXY) Director Sells $994,323.39 in 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 business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $29.83, for a total transaction of $994,323.39. Following the sale, the director directly owned 112,053 shares in the company, valued at approximately $3,342,540.99. The trade was a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Galaxy Digital Price Performance

Shares of NASDAQ GLXY traded down $0.21 during trading on Friday, hitting $32.87. 7,972,195 shares of the company traded hands, compared to its average volume of 7,699,763. The firm has a fifty day moving average of $27.03. Galaxy Digital Inc. has a fifty-two week low of $8.20 and a fifty-two week high of $34.25. 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 (NASDAQ:GLXY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14. The business had revenue of $8.66 billion during the quarter, compared to analyst estimates of $13.11 billion.

Wall Street Analyst Weigh In

Several brokerages have commented on GLXY. BTIG Research reissued a "buy" rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Tuesday, August 5th. Rosenblatt Securities lowered their price objective on shares of Galaxy Digital from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler raised their price objective on shares of Galaxy Digital from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Jefferies Financial Group started coverage on shares of Galaxy Digital in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $35.00 price target for the company. Finally, Wall Street Zen upgraded shares of Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Galaxy Digital presently has a consensus rating of "Buy" and an average target price of $35.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SevenBridge Financial Group LLC purchased a new stake in shares of Galaxy Digital in the second quarter worth $296,000. Osaic Holdings Inc. purchased a new stake in shares of Galaxy Digital in the second quarter worth $632,000. Orion Porfolio Solutions LLC purchased a new stake in shares of Galaxy Digital in the second quarter worth $217,000. Marex Group plc purchased a new stake in shares of Galaxy Digital in the second quarter worth $712,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Galaxy Digital in the second quarter worth $1,203,000.

About Galaxy Digital

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.