Key Points
- Galaxy Digital director Medina Rhonda Adams sold 12,000 shares at an average price of $16.45, generating $197,400. The transaction reduced her holdings by 10.01% to 107,919 shares.
- Galaxy Digital shares opened at $14.59, near their 52-week low of $14.19 and well below the 52-week high of $36.88. The stock’s 50-day and 200-day moving averages stood at $21.66 and $24.15, respectively.
- The company reported quarterly earnings of $0.83 per share, beating estimates of $0.29, while analysts maintained a consensus “Moderate Buy” rating with a $35.29 target price.
Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Medina Adams sold 12,000 shares of the company's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $16.45, for a total value of $197,400.00. Following the transaction, the director owned 107,919 shares in the company, valued at $1,775,267.55. This trade represents a 10.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Galaxy Digital Trading Down 8.8%
Shares of NASDAQ:GLXY opened at $14.59 on Tuesday. Galaxy Digital Inc. has a 52-week low of $14.19 and a 52-week high of $36.88. The stock has a 50 day moving average price of $21.66 and a 200-day moving average price of $24.15. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.54. Galaxy Digital had a negative return on equity of 10.30% and a negative net margin of 0.89%. The company had revenue of $8.69 billion for the quarter. On average, equities research analysts forecast that Galaxy Digital Inc. will post -0.24 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Chardan Capital reissued a "buy" rating and set a $35.00 price objective on shares of Galaxy Digital in a research report on Tuesday, October 27th. Zacks Research upgraded shares of Galaxy Digital from a "strong sell" rating to a "hold" rating in a research note on Friday, September 18th. HC Wainwright lowered their price target on shares of Galaxy Digital from $40.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, October 28th. Piper Sandler cut their price objective on shares of Galaxy Digital from $33.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, October 20th. Finally, The Goldman Sachs Group set a $20.50 target price on shares of Galaxy Digital in a research note on Tuesday, October 27th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $35.29.
View Our Latest Stock Analysis on Galaxy Digital
Institutional Investors Weigh In On Galaxy Digital
A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in Galaxy Digital in the 2nd quarter worth about $30,000. Reyes Financial Architecture Inc. bought a new stake in Galaxy Digital during the 3rd quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Galaxy Digital during the 3rd quarter valued at about $37,000. Hollencrest Capital Management raised its holdings in Galaxy Digital by 204.0% in the first quarter. Hollencrest Capital Management now owns 2,584 shares of the company's stock worth $48,000 after buying an additional 1,734 shares during the last quarter. Finally, CoreCap Advisors LLC raised its holdings in Galaxy Digital by 496.0% in the third quarter. CoreCap Advisors LLC now owns 2,211 shares of the company's stock worth $50,000 after buying an additional 1,840 shares during the last quarter.
Galaxy Digital Company Profile
(
Get Free Report)
Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Founded in 2018 by Michael Novogratz, the company provides institutional investors, corporations and other market participants with services spanning trading, asset management, investment banking, principal investments and venture capital.
Its offerings include spot and derivatives trading, lending and structured products, digital-asset funds and separately managed accounts, as well as advisory services for mergers, acquisitions, capital raising and other strategic transactions.
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