Investors Purchase Large Volume of Call Options on Galaxy Digital (NASDAQ:GLXY)

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 19,916 call options on the company. This represents an increase of 92% compared to the average volume of 10,386 call options.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, 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 now directly owns 348,921 shares in the company, valued at approximately $6,315,470.10. This trade represents a 92.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Erin Elizabeth Brown sold 87,704 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer now owns 402,591 shares in the company, valued at $8,925,442.47. The trade was a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,668,671 shares of company stock worth $175,359,900.

Galaxy Digital Price Performance

GLXY traded down $0.18 on Friday, reaching $18.86. The company had a trading volume of 26,231,203 shares, compared to its average volume of 4,604,244. Galaxy Digital has a 1 year low of $6.89 and a 1 year high of $26.60.

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.