Galaxy Digital Inc. (NASDAQ:GLXY) Director Sells $1,414,000.00 in Stock

Key Points

• Director Richard Tavoso sold 50,000 shares of Galaxy Digital Inc. at an average price of $28.28, totaling about $1.414 million, reducing his ownership by 11.11%.
• Galaxy Digital reported $0.08 earnings per share for the quarter, exceeding analyst expectations, despite revenue falling short at $8.66 billion compared to $13.11 billion estimated.
• Multiple analysts have given Galaxy Digital a consensus rating of "Moderate Buy" with an average price target of $35.63, indicating positive sentiment towards the stock's future performance.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Richard Tavoso sold 50,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $28.28, for a total value of $1,414,000.00. Following the completion of the transaction, the director directly owned 400,000 shares of the company's stock, valued at $11,312,000. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Galaxy Digital Stock Performance

NASDAQ GLXY traded up $1.25 during mid-day trading on Wednesday, hitting $29.15. The stock had a trading volume of 3,350,757 shares, compared to its average volume of 3,238,885. Galaxy Digital Inc. has a 52-week low of $8.20 and a 52-week high of $33.17. The stock has a 50 day moving average price of $23.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to analyst estimates of $13.11 billion.

Institutional Trading of Galaxy Digital

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GLXY shares. Canaccord Genuity Group upped their target price on Galaxy Digital from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Maxim Group began coverage on Galaxy Digital in a research note on Thursday, July 31st. They set a "buy" rating and a $40.00 price objective for the company. Atb Cap Markets raised Galaxy Digital to a "strong-buy" rating in a research note on Tuesday, May 20th. Rosenblatt Securities cut their target price on Galaxy Digital from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, BTIG Research reissued a "buy" rating and set a $35.00 target price on shares of Galaxy Digital in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Galaxy Digital currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.63.

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.