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

Equities researchers at Rosenblatt Securities initiated coverage on shares of Galaxy Digital (NASDAQ:GLXY - Get Free Report) in a research note issued on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $25.00 price target on the stock. Rosenblatt Securities' price objective suggests a potential upside of 26.84% from the company's previous close.

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

Galaxy Digital Stock Performance

GLXY traded up $1.24 during midday trading on Tuesday, reaching $19.71. 7,632,261 shares of the company's stock were exchanged, compared to its average volume of 1,508,964. Galaxy Digital has a one year low of $6.89 and a one year high of $26.60.

Insiders Place Their Bets

In other news, COO Erin Elizabeth Brown sold 87,704 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $22.17, for a total transaction of $1,944,397.68. Following the sale, the chief operating officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher C. Ferraro sold 1,250,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $18.10, for a total transaction of $22,625,000.00. Following the completion of the sale, the insider now directly owns 1,437,921 shares of the company's stock, valued at approximately $26,026,370.10. This represents a 46.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,668,671 shares of company stock valued at $175,359,900.

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.