Key Points
- Director Douglas Deason purchased 12,000 Galaxy Digital shares at an average price of $21.54, investing $258,480 and increasing his ownership by 20.34% to 71,000 shares.
- Galaxy Digital reported quarterly revenue of $8.71 billion and adjusted EPS of negative $0.09, beating analysts’ expected loss of $0.36 per share. Shares opened at $21.66, with a market capitalization of approximately $8.47 billion.
- Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $38.83, while major institutions including Vanguard and Capital Research have built or increased positions.
Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Douglas Deason purchased 12,000 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the purchase, the director owned 71,000 shares of the company's stock, valued at $1,529,340. This represents a 20.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Galaxy Digital Stock Up 3.4%
Shares of NASDAQ GLXY opened at $21.66 on Friday. The business has a 50-day moving average of $25.64 and a two-hundred day moving average of $24.76. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of -33.32 and a beta of 5.06. 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 1.04, a current ratio of 1.50 and a quick ratio of 1.70.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.36) by $0.27. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.The business had revenue of $8.71 billion for the quarter. During the same quarter in the previous year, the company posted $0.08 EPS. On average, analysts forecast that Galaxy Digital Inc. will post -0.82 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on GLXY shares. Canaccord Genuity Group reiterated a "buy" rating and issued a $50.00 price target on shares of Galaxy Digital in a research note on Friday, April 24th. Morgan Stanley restated an "overweight" rating and set a $37.00 price objective on shares of Galaxy Digital in a research report on Wednesday, April 29th. Citizens Jmp restated a "market outperform" rating and issued a $55.00 target price on shares of Galaxy Digital in a report on Wednesday, April 29th. BTIG Research lowered their target price on shares of Galaxy Digital from $50.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Finally, Rosenblatt Securities dropped their target price on shares of Galaxy Digital from $39.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.83.
Read Our Latest Report on GLXY
Institutional Trading of Galaxy Digital
Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors acquired a new stake in shares of Galaxy Digital in the 4th quarter valued at about $406,102,000. Vanguard Group Inc. increased its position in Galaxy Digital by 27.5% during the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company's stock worth $462,310,000 after buying an additional 4,463,782 shares during the period. Invesco Ltd. purchased a new stake in Galaxy Digital in the second quarter valued at approximately $53,233,000. Tidal Investments LLC purchased a new stake in Galaxy Digital in the second quarter valued at approximately $48,452,000. Finally, Norges Bank acquired a new stake in shares of Galaxy Digital in the fourth quarter valued at approximately $32,045,000.
About Galaxy Digital
(
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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