Insider Selling: Galaxy Digital (NASDAQ:GLXY) Insider Sells 750,000 Shares of Stock

Key Points

• Insider Christopher Ferraro sold 750,000 shares of Galaxy Digital at an average price of $36.00, totaling $27 million, which represents a 52.16% decrease in his position.
• Galaxy Digital's stock is currently trading at $41.14, with a 52-week range of $8.20 to $44.33 and had a trading volume significantly above its average.
• The company's latest quarterly earnings report showed an EPS of $0.08, exceeding the consensus estimate, despite revenues falling short of expectations.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) insider Christopher Ferraro sold 750,000 shares of the firm's stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $36.00, for a total value of $27,000,000.00. Following the transaction, the insider directly owned 687,921 shares of the company's stock, valued at approximately $24,765,156. This trade represents a 52.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Galaxy Digital Stock Down 0.2%

Shares of Galaxy Digital stock traded down $0.09 on Tuesday, reaching $41.14. The company's stock had a trading volume of 7,673,395 shares, compared to its average volume of 4,361,135. The company's fifty day moving average price is $29.91. Galaxy Digital Inc. has a 52 week low of $8.20 and a 52 week high of $44.33. 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 (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to the consensus estimate of $13.11 billion.

Hedge Funds Weigh In On Galaxy Digital

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

Wall Street Analyst Weigh In

GLXY has been the topic of a number of recent research reports. Rosenblatt Securities decreased their price objective on Galaxy Digital from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Jefferies Financial Group started coverage on Galaxy Digital in a research report on Wednesday, July 23rd. They set a "buy" rating and a $35.00 price target on the stock. Benchmark raised their target price on Galaxy Digital from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. BTIG Research reaffirmed a "buy" rating and issued a $35.00 price target on shares of Galaxy Digital in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group lifted their price target on shares of Galaxy Digital from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Galaxy Digital presently has an average rating of "Buy" and a consensus price target of $37.50.

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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