Investors Buy High Volume of Galaxy Digital Call Options (NASDAQ:GLXY)

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) saw unusually large options trading on Friday. Investors acquired 30,515 call options on the company. This represents an increase of approximately 66% compared to the typical daily volume of 18,380 call options.

Insider Transactions at Galaxy Digital

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

Institutional Investors Weigh In On Galaxy Digital

A number of institutional investors have recently bought and sold shares of GLXY. SJS Investment Consulting Inc. purchased a new position in Galaxy Digital in the second quarter worth about $77,000. Strategic Investment Solutions Inc. IL bought a new position in Galaxy Digital in the second quarter worth approximately $79,000. AdvisorNet Financial Inc acquired a new position in shares of Galaxy Digital during the second quarter worth $125,000. Harbour Capital Advisors LLC acquired a new position in shares of Galaxy Digital during the second quarter worth $349,000. Finally, Accurate Wealth Management LLC purchased a new stake in shares of Galaxy Digital during the second quarter valued at $440,000.

Galaxy Digital Price Performance

Shares of NASDAQ GLXY traded up $1.09 during midday trading on Friday, hitting $27.13. 20,086,825 shares of the stock traded hands, compared to its average volume of 7,427,776. The stock has a 50-day moving average price of $20.70. Galaxy Digital has a one year low of $6.89 and a one year high of $28.20.

Analysts Set New Price Targets

Several research firms recently commented on GLXY. Wall Street Zen upgraded Galaxy Digital to a "sell" rating in a research note on Friday. HC Wainwright upgraded Galaxy Digital to a "strong-buy" rating in a research note on Friday, May 16th. Canaccord Genuity Group reiterated a "buy" rating and issued a $33.00 price objective on shares of Galaxy Digital in a research note on Thursday, July 3rd. Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, Rosenblatt Securities began coverage on Galaxy Digital in a research note on Tuesday, June 24th. They issued a "buy" rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $29.00.

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.