Renaissance Technologies LLC Has $7.72 Million Position in Galaxy Digital Inc. $GLXY

Renaissance Technologies LLC lifted its holdings in Galaxy Digital Inc. (NASDAQ:GLXY) by 136.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 418,221 shares of the company’s stock after buying an additional 241,500 shares during the period. Renaissance Technologies LLC’s holdings in Galaxy Digital were worth $7,716,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Galaxy Digital by 27.5% in the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after acquiring an additional 4,463,782 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Galaxy Digital in the 4th quarter valued at about $406,102,000. Invesco Ltd. lifted its position in shares of Galaxy Digital by 31.1% in the fourth quarter. Invesco Ltd. now owns 3,082,187 shares of the company’s stock worth $68,918,000 after purchasing an additional 731,215 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Galaxy Digital by 13.0% during the fourth quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock worth $54,424,000 after purchasing an additional 279,818 shares during the period. Finally, Tidal Investments LLC purchased a new position in Galaxy Digital during the second quarter valued at approximately $48,452,000.

Galaxy Digital Stock Performance

GLXY opened at $21.88 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market cap of $8.53 billion, a PE ratio of -45.58 and a beta of 4.84. The stock has a 50-day moving average of $27.18 and a 200-day moving average of $25.44. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92.

Insiders Place Their Bets

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the completion of the sale, the director owned 1,505,419 shares of the company’s stock, valued at $43,310,904.63. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 51.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GLXY shares. Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Zacks Research downgraded shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Galaxy Digital in a report on Friday, May 1st. Citizens Jmp reissued a “market outperform” rating and set a $55.00 price objective on shares of Galaxy Digital in a research report on Wednesday, April 29th. Finally, Rosenblatt Securities lowered their target price on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.25.

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.