Galaxy Digital’s (GLXY) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Galaxy Digital (NASDAQ:GLXY) in a research note released on Friday morning,Benzinga reports. They currently have a $46.00 price objective on the stock.

A number of other research analysts have also weighed in on GLXY. Morgan Stanley initiated coverage on Galaxy Digital in a research note on Thursday, November 6th. They set an “overweight” rating and a $42.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Galaxy Digital in a research report on Monday, December 29th. Citigroup started coverage on Galaxy Digital in a report on Tuesday, December 9th. They issued an “outperform” rating for the company. JMP Securities set a $60.00 price objective on shares of Galaxy Digital in a research note on Tuesday, December 9th. Finally, BTIG Research raised their target price on shares of Galaxy Digital from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Galaxy Digital has a consensus rating of “Buy” and a consensus price target of $46.27.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $28.26 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $11.04 billion and a PE ratio of 23.55. The firm has a 50 day simple moving average of $26.95 and a 200-day simple moving average of $29.41. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $45.92.

Insider Buying and Selling

In other Galaxy Digital news, Director Douglas R. Deason purchased 10,000 shares of Galaxy Digital stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $29.59 per share, with a total value of $295,900.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $295,900. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Galaxy Digital

Several large investors have recently made changes to their positions in GLXY. Exencial Wealth Advisors LLC acquired a new position in shares of Galaxy Digital during the 4th quarter valued at $316,000. Comerica Bank lifted its stake in shares of Galaxy Digital by 661.9% during the fourth quarter. Comerica Bank now owns 7,474 shares of the company’s stock worth $167,000 after purchasing an additional 6,493 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Galaxy Digital by 184.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 80,708 shares of the company’s stock worth $1,808,000 after buying an additional 52,334 shares during the period. Facet Wealth Inc. acquired a new stake in shares of Galaxy Digital in the fourth quarter valued at about $448,000. Finally, Vanguard Group Inc. raised its holdings in shares of Galaxy Digital by 27.5% during the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock valued at $462,310,000 after buying an additional 4,463,782 shares during the period.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) is a diversified financial services and investment management firm dedicated to the digital assets and blockchain technology sectors. Established in 2018 by Mike Novogratz, the company operates across trading, asset management, principal investing and advisory services. Galaxy Digital caters to institutional clients, high-net-worth investors and corporations seeking exposure to cryptocurrencies, decentralized finance (DeFi) protocols and other blockchain-based assets.

In its trading division, Galaxy Digital provides market-making, execution and over-the-counter (OTC) solutions for a wide range of digital tokens.