Key Points
- Galaxy Digital director Michael Daffey sold 250,000 shares on May 21 at an average price of $28.77, generating about $7.19 million in proceeds. After the sale, he still held 1,505,419 shares, a 14.24% reduction in his position.
- The company recently reported better-than-expected quarterly results, posting earnings of -$0.49 per share versus the -$0.59 consensus estimate, on revenue of $10.21 billion. Analysts currently expect Galaxy Digital to post -0.32 EPS for the full fiscal year.
- Wall Street sentiment remains broadly positive, with 12 Buy ratings, 2 Hold ratings, and 1 Sell rating. The consensus price target is $39.50, above the stock’s Friday opening price of $29.57.
Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Michael Daffey sold 250,000 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00. Following the completion of the sale, the director directly owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Galaxy Digital Price Performance
GLXY stock opened at $29.57 on Friday. The stock's 50 day moving average price is $24.16 and its 200 day moving average price is $25.10. 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 firm has a market cap of $11.53 billion and a P/E ratio of -61.60. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly 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 during the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same quarter last year, the firm posted ($0.86) earnings per share. On average, sell-side analysts expect that Galaxy Digital Inc. will post -0.32 earnings per share for the current fiscal year.
Institutional Trading of Galaxy Digital
A number of institutional investors and hedge funds have recently made changes to their positions in GLXY. JPMorgan Chase & Co. acquired a new stake in shares of Galaxy Digital during the 2nd quarter worth $80,000. Invesco Ltd. purchased a new stake in Galaxy Digital during the 2nd quarter worth $53,233,000. EverSource Wealth Advisors LLC purchased a new stake in Galaxy Digital during the 2nd quarter worth $116,000. First Trust Advisors LP purchased a new stake in Galaxy Digital during the 2nd quarter worth $13,376,000. Finally, Cerity Partners LLC purchased a new stake in Galaxy Digital during the 2nd quarter worth $219,000.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $50.00 price target on shares of Galaxy Digital in a report on Friday, April 24th. Citizens Jmp reiterated a "market outperform" rating and issued a $55.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. Chardan Capital reiterated a "buy" rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. Wall Street Zen upgraded Galaxy Digital from a "strong sell" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, Citigroup boosted their price target on Galaxy Digital from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, March 18th. Twelve investment 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. According to data from MarketBeat.com, Galaxy Digital has a consensus rating of "Moderate Buy" and a consensus price target of $39.50.
Read Our Latest Report on GLXY
Galaxy Digital Company Profile
(
Get Free Report)
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.
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