Galaxy Digital Target of Unusually Large Options Trading (NASDAQ:GLXY)

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) was the target of unusually large options trading on Friday. Stock investors acquired 30,515 call options on the stock. This represents an increase of 66% compared to the typical volume of 18,380 call options.

Galaxy Digital Stock Performance

NASDAQ GLXY traded up $2.65 on Monday, reaching $29.78. 12,974,726 shares of the stock traded hands, compared to its average volume of 2,320,454. The stock's fifty day moving average price is $20.70. Galaxy Digital has a 12 month low of $6.89 and a 12 month high of $31.75.

Insider Transactions at Galaxy Digital

In other news, CEO Michael Novogratz sold 4,380,967 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $18.10, for a total value of $79,295,502.70. Following the completion of the transaction, the chief executive officer directly owned 348,921 shares of the company's stock, valued at approximately $6,315,470.10. The trade was a 92.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher C. Ferraro sold 1,250,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $18.10, for a total value of $22,625,000.00. Following the transaction, the insider directly owned 1,437,921 shares in the company, valued at $26,026,370.10. This represents a 46.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,668,671 shares of company stock valued at $175,359,900 over the last 90 days.

Institutional Investors Weigh In On Galaxy Digital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Capital Advisors LLC acquired a new stake in Galaxy Digital during the second quarter valued at approximately $349,000. AdvisorNet Financial Inc acquired a new position in Galaxy Digital in the 2nd quarter worth $125,000. SJS Investment Consulting Inc. acquired a new position in Galaxy Digital in the 2nd quarter worth $77,000. Accurate Wealth Management LLC bought a new stake in Galaxy Digital during the 2nd quarter worth about $440,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Galaxy Digital during the 2nd quarter worth about $79,000.

Analysts Set New Price Targets

GLXY has been the topic of several analyst reports. Atb Cap Markets raised Galaxy Digital to a "strong-buy" rating in a report on Tuesday, May 20th. Wall Street Zen upgraded Galaxy Digital to a "sell" rating in a research report on Friday. Canaccord Genuity Group reissued a "buy" rating and issued a $33.00 price target on shares of Galaxy Digital in a research report on Thursday, July 3rd. Piper Sandler increased their price objective on Galaxy Digital from $34.00 to $36.00 and gave the company an "overweight" rating in a report on Monday. Finally, Rosenblatt Securities started coverage on Galaxy Digital in a research note on Tuesday, June 24th. They set a "buy" rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $31.33.

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.