Vanguard Group Inc. Purchases 2,179,540 Shares of Galaxy Digital Inc. $GLXY

Vanguard Group Inc. boosted its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 15.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,206,111 shares of the company’s stock after purchasing an additional 2,179,540 shares during the period. Vanguard Group Inc.’s holdings in Galaxy Digital were worth $547,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLXY. Rovida Advisors Inc. purchased a new position in shares of Galaxy Digital during the 2nd quarter valued at $33,612,000. Seven Grand Managers LLC bought a new stake in Galaxy Digital during the second quarter valued at $27,375,000. SG Americas Securities LLC bought a new stake in Galaxy Digital during the third quarter valued at $3,119,000. Rovida Investment Management Ltd purchased a new position in Galaxy Digital during the second quarter worth about $33,612,000. Finally, Horizon Kinetics Asset Management LLC purchased a new stake in shares of Galaxy Digital in the 2nd quarter valued at about $29,877,000.

Analyst Upgrades and Downgrades

GLXY has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a research report on Tuesday, February 3rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of Galaxy Digital in a report on Wednesday, February 4th. Citigroup began coverage on Galaxy Digital in a research note on Tuesday, December 9th. They issued an “outperform” rating on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Galaxy Digital Trading Up 5.9%

NASDAQ GLXY opened at $21.54 on Wednesday. The firm has a market cap of $8.41 billion and a PE ratio of 179.50. Galaxy Digital Inc. has a 1-year low of $8.20 and a 1-year high of $45.92. The stock has a 50-day moving average of $25.13 and a 200-day moving average of $28.62. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $0.16. The company had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $13.08 billion.

Insider Activity at Galaxy Digital

In other news, Director Douglas R. Deason purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was bought at an average cost of $20.80 per share, for a total transaction of $520,000.00. Following the acquisition, the director directly owned 59,000 shares of the company’s stock, valued at $1,227,200. This represents a 73.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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.