Pillsbury Lake Capital LLC Invests $4.59 Million in Galaxy Digital Inc. $GLXY

Pillsbury Lake Capital LLC bought a new position in Galaxy Digital Inc. (NASDAQ:GLXY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 167,836 shares of the company’s stock, valued at approximately $4,589,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLXY. JPMorgan Chase & Co. acquired a new stake in shares of Galaxy Digital in the second quarter valued at about $80,000. Invesco Ltd. bought a new stake in shares of Galaxy Digital in the second quarter valued at approximately $53,233,000. EverSource Wealth Advisors LLC acquired a new stake in Galaxy Digital during the second quarter worth about $116,000. First Trust Advisors LP bought a new position in Galaxy Digital during the second quarter valued at about $13,376,000. Finally, Cerity Partners LLC bought a new position in Galaxy Digital during the second quarter valued at about $219,000.

Galaxy Digital Stock Performance

Shares of Galaxy Digital stock opened at $24.64 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $24.12 and a 200 day simple moving average of $24.54. Galaxy Digital Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $45.92. The firm has a market cap of $9.63 billion, a P/E ratio of -37.91 and a beta of 5.06.

Galaxy Digital (NASDAQ:GLXY) last announced 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. The firm had revenue of $8.71 billion for 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 in the previous year, the business posted $0.08 earnings per share. Sell-side analysts predict that Galaxy Digital Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason purchased 12,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the transaction, the director directly owned 71,000 shares in the company, valued at $1,529,340. This represents a 20.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven John Bandrowczak purchased 5,100 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $19.63 per share, with a total value of $100,113.00. Following the completion of the purchase, the director owned 39,186 shares of the company’s stock, valued at $769,221.18. The trade was a 14.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 51.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

GLXY has been the subject of a number of research reports. Piper Sandler reduced their price objective on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Morgan Stanley restated an “overweight” rating and issued a $37.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Chardan Capital reiterated a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research note on Wednesday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Galaxy Digital in a report on Friday, May 1st. Finally, Rosenblatt Securities dropped their price objective on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Galaxy Digital presently has an average rating of “Moderate Buy” and an average price target of $38.67.

About Galaxy Digital

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.