Rosenblatt Securities Initiates Coverage on Galaxy Digital (NASDAQ:GLXY)

Research analysts at Rosenblatt Securities started coverage on shares of Galaxy Digital (NASDAQ:GLXY - Get Free Report) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a "buy" rating and a $25.00 price target on the stock. Rosenblatt Securities' price target would indicate a potential upside of 26.71% from the stock's previous close.

Several other research analysts have also recently weighed in on GLXY. Atb Cap Markets upgraded Galaxy Digital to a "strong-buy" rating in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of Galaxy Digital to a "sell" rating in a research report on Saturday, May 24th. Finally, HC Wainwright raised shares of Galaxy Digital to a "strong-buy" rating in a report on Friday, May 16th.

Galaxy Digital Price Performance

Shares of GLXY stock traded down $0.75 during trading on Tuesday, reaching $19.73. 3,160,573 shares of the company's stock were exchanged, compared to its average volume of 1,577,002. Galaxy Digital has a twelve month low of $6.89 and a twelve month high of $26.60.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, CEO Michael Novogratz sold 4,380,967 shares of the company's stock in a transaction dated 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 now owns 348,921 shares of the company's stock, valued at $6,315,470.10. This represents a 92.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Erin Elizabeth Brown sold 87,704 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $22.17, for a total value of $1,944,397.68. Following the completion of the transaction, the chief operating officer now owns 402,591 shares of the company's stock, valued at $8,925,442.47. This represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,668,671 shares of company stock valued at $175,359,900 over the last quarter.

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.