Galaxy Digital (NASDAQ:GLXY) Director Michael Daffey Sells 250,000 Shares

Galaxy Digital Inc. (NASDAQ:GLXY) Director Michael Daffey sold 250,000 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the sale, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Galaxy Digital Price Performance

Shares of GLXY stock traded up $1.80 during midday trading on Thursday, reaching $29.57. 4,179,688 shares of the company traded hands, compared to its average volume of 6,119,180. The firm’s 50 day simple moving average is $24.01 and its two-hundred day simple moving average is $25.14. Galaxy Digital Inc. has a 1-year low of $16.43 and a 1-year high of $45.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market cap of $11.53 billion and a PE ratio of -61.60.

Galaxy Digital (NASDAQ:GLXY) last posted its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.10. The company had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period last year, the company posted ($0.86) EPS. On average, equities research analysts expect that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

Institutional Trading of Galaxy Digital

A number of hedge funds have recently bought and sold shares of GLXY. Caitong International Asset Management Co. Ltd boosted its position in Galaxy Digital by 183.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after acquiring an additional 928 shares during the last quarter. Picton Mahoney Asset Management boosted its position in Galaxy Digital by 200.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Danske Bank A S purchased a new position in Galaxy Digital during the fourth quarter worth about $36,000. Northwestern Mutual Wealth Management Co. purchased a new position in Galaxy Digital during the fourth quarter worth about $46,000. Finally, CWM LLC raised its position in shares of Galaxy Digital by 20.8% in the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock worth $48,000 after buying an additional 244 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GLXY. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of Galaxy Digital in a research report on Friday, May 1st. HC Wainwright lowered their target price on Galaxy Digital from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Morgan Stanley reiterated an “overweight” rating and set a $37.00 target price on shares of Galaxy Digital in a report on Wednesday, April 29th. Rosenblatt Securities reiterated a “buy” rating and set a $39.00 target price on shares of Galaxy Digital in a report on Thursday, April 23rd. Finally, Citigroup increased their target price on Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, March 18th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.50.

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.