Insider Selling: Galaxy Digital (NASDAQ:GLXY) Director Sells 12,000 Shares of Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Medina Adams sold 12,000 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $16.45, for a total transaction of $197,400.00. Following the sale, the director directly owned 107,919 shares of the company’s stock, valued at approximately $1,775,267.55. This represents a 10.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Galaxy Digital Price Performance

GLXY traded down $1.41 during trading on Monday, reaching $14.59. The company’s stock had a trading volume of 9,070,152 shares, compared to its average volume of 6,429,799. 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 firm has a fifty day simple moving average of $21.84 and a two-hundred day simple moving average of $24.22. Galaxy Digital Inc. has a 1 year low of $14.19 and a 1 year high of $36.88. The company has a market cap of $5.70 billion, a price-to-earnings ratio of -14.59 and a beta of 5.39.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.69 billion during the quarter. As a group, analysts anticipate that Galaxy Digital Inc. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Galaxy Digital

Several large investors have recently made changes to their positions in GLXY. Commonwealth Equity Services LLC increased its holdings in Galaxy Digital by 2.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,541 shares of the company’s stock valued at $717,000 after purchasing an additional 767 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Galaxy Digital during the third quarter worth $37,000. Apollon Wealth Management LLC lifted its stake in Galaxy Digital by 8.5% during the third quarter. Apollon Wealth Management LLC now owns 55,164 shares of the company’s stock worth $1,254,000 after purchasing an additional 4,330 shares in the last quarter. Inspire Investing LLC boosted its position in shares of Galaxy Digital by 58.9% during the third quarter. Inspire Investing LLC now owns 23,374 shares of the company’s stock worth $532,000 after buying an additional 8,665 shares during the period. Finally, Reyes Financial Architecture Inc. purchased a new position in shares of Galaxy Digital during the third quarter worth $30,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GLXY. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of Galaxy Digital in a research note on Tuesday, October 27th. Maxim Group lowered their price target on shares of Galaxy Digital from $46.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Rosenblatt Securities dropped their price objective on shares of Galaxy Digital from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, October 26th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research note on Wednesday, October 28th. Finally, Weiss Ratings lowered shares of Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Galaxy Digital currently has a consensus rating of “Moderate Buy” and an average target price of $35.29.

About Galaxy Digital

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.