Galaxy Digital (NASDAQ:GLXY) Price Target Raised to $36.00 at Piper Sandler

Galaxy Digital (NASDAQ:GLXY - Free Report) had its price target hoisted by Piper Sandler from $34.00 to $36.00 in a research report report published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Galaxy Digital to a "sell" rating in a research note on Friday. Rosenblatt Securities initiated coverage on Galaxy Digital in a research report on Tuesday, June 24th. They set a "buy" rating and a $25.00 price target on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $33.00 price target on shares of Galaxy Digital in a research report on Thursday, July 3rd. HC Wainwright raised Galaxy Digital to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Atb Cap Markets raised Galaxy Digital to a "strong-buy" rating in a research report on Tuesday, May 20th. 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.com, the company currently has an average rating of "Buy" and a consensus target price of $31.33.

Galaxy Digital Stock Up 1.2%

Shares of GLXY stock traded up $0.32 during mid-day trading on Monday, reaching $27.45. The stock had a trading volume of 22,006,054 shares, compared to its average volume of 7,122,052. Galaxy Digital has a 12-month low of $6.89 and a 12-month high of $31.75. The firm's 50-day moving average is $20.85.

Insider Transactions at Galaxy Digital

In other news, COO Erin Elizabeth Brown sold 353,956 shares of Galaxy Digital stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $6,406,603.60. Following the transaction, the chief operating officer owned 198,088 shares in the company, valued at $3,585,392.80. The trade was a 64.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew N. Siegel sold 223,169 shares of Galaxy Digital stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $18.10, for a total value of $4,039,358.90. Following the completion of the sale, the general counsel directly owned 479,896 shares in the company, valued at approximately $8,686,117.60. This represents a 31.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,668,671 shares of company stock worth $175,359,900 in the last ninety days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC acquired a new stake in shares of Galaxy Digital during the second quarter valued at about $349,000. AdvisorNet Financial Inc acquired a new stake in shares of Galaxy Digital during the second quarter valued at about $125,000. SJS Investment Consulting Inc. acquired a new stake in shares of Galaxy Digital during the second quarter valued at about $77,000. Accurate Wealth Management LLC acquired a new stake in Galaxy Digital in the second quarter valued at $440,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Galaxy Digital in the second quarter valued at $79,000.

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.