Galaxy Digital (NASDAQ:GLXY) Director Michael Daffey Sells 250,000 Shares

Galaxy Digital Inc. (NASDAQ:GLXY) Director Michael Daffey sold 250,000 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00. Following the completion of the sale, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. This represents a 14.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Galaxy Digital Price Performance

Shares of GLXY opened at $29.57 on Friday. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92. The stock’s 50 day moving average is $24.16 and its two-hundred day moving average is $25.10. The firm has a market capitalization of $11.53 billion and a PE ratio of -61.60. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. The company had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period in the prior year, the firm posted ($0.86) EPS. Research analysts anticipate that Galaxy Digital Inc. will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Galaxy Digital

A number of institutional investors and hedge funds have recently bought and sold shares of GLXY. JPMorgan Chase & Co. purchased a new stake in Galaxy Digital in the 2nd quarter valued at approximately $80,000. Invesco Ltd. purchased a new stake in Galaxy Digital in the 2nd quarter valued at approximately $53,233,000. EverSource Wealth Advisors LLC purchased a new stake in Galaxy Digital in the 2nd quarter valued at approximately $116,000. First Trust Advisors LP purchased a new stake in Galaxy Digital in the 2nd quarter valued at approximately $13,376,000. Finally, Cerity Partners LLC purchased a new stake in Galaxy Digital in the 2nd quarter valued at approximately $219,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Galaxy Digital in a research note on Friday, May 1st. Chardan Capital reissued a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research note on Monday, May 4th. Morgan Stanley reissued an “overweight” rating and set a $37.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Citizens Jmp reissued a “market outperform” rating and set a $55.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research note on Friday, April 24th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Galaxy Digital has an average rating of “Moderate Buy” and an average target price of $39.50.

Galaxy Digital Company Profile

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.