Key Points
- Insider sale: Matthew Friedrich sold 4,993 Galaxy Digital shares for approximately $134,961 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 1.78% to 275,782 shares.
- Stock and financial performance: GLXY opened at $24.13, with a 52-week range of $16.43 to $45.92. Galaxy Digital reported a quarterly loss of $0.09 per share, but beat analysts’ expected loss of $0.36, on $8.71 billion in revenue.
- Analyst outlook: Despite mixed ratings and several price-target reductions, the stock has a consensus “Moderate Buy” rating from analysts, with an average price target of $39.58.
Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) insider Matthew Friedrich sold 4,993 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $27.03, for a total value of $134,960.79. Following the completion of the sale, the insider owned 275,782 shares in the company, valued at $7,454,387.46. This trade represents a 1.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Galaxy Digital Price Performance
Galaxy Digital stock opened at $24.13 on Friday. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of -37.12 and a beta of 5.10. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $23.13 and a 200 day simple moving average of $24.85. Galaxy Digital Inc. has a 52 week low of $16.43 and a 52 week high of $45.92.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.36) by $0.27. The firm had revenue of $8.71 billion during the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.During the same quarter last year, the business posted $0.08 EPS. On average, research analysts forecast that Galaxy Digital Inc. will post -0.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Galaxy Digital
Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors purchased a new stake in shares of Galaxy Digital in the 4th quarter worth about $406,102,000. California State Teachers Retirement System lifted its holdings in Galaxy Digital by 2,735.0% in the second quarter. California State Teachers Retirement System now owns 6,074,538 shares of the company's stock worth $166,078,000 after buying an additional 5,860,265 shares during the period. Invesco Ltd. lifted its holdings in 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 buying an additional 731,215 shares during the period. Geode Capital Management LLC boosted its position in Galaxy Digital by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company's stock valued at $54,424,000 after acquiring an additional 279,818 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in Galaxy Digital during the 2nd quarter valued at approximately $48,452,000.
Analysts Set New Price Targets
GLXY has been the subject of several research reports. Rosenblatt Securities cut their target price on shares of Galaxy Digital from $39.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Citigroup cut their price objective on Galaxy Digital from $28.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, August 19th. Zacks Research lowered Galaxy Digital from a "hold" rating to a "strong sell" rating in a research report on Monday, July 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Galaxy Digital in a report on Friday, August 21st. Finally, Chardan Capital restated a "buy" rating and issued a $35.00 target price on shares of Galaxy Digital in a research report on Wednesday, August 5th. Ten investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.58.
Check Out Our Latest Research Report on GLXY
Galaxy Digital Company Profile
(
Get Free Report)
Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.
Galaxy's business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.
The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.
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