Swiss National Bank Grows Stock Holdings in Galaxy Digital Inc. $GLXY

Swiss National Bank lifted its stake in Galaxy Digital Inc. (NASDAQ:GLXY) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 380,700 shares of the company’s stock after purchasing an additional 31,200 shares during the quarter. Swiss National Bank’s holdings in Galaxy Digital were worth $7,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLXY. Victory Capital Management Inc. increased its position in Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after buying an additional 411 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Galaxy Digital by 6.9% in the first quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock worth $186,000 after acquiring an additional 655 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Galaxy Digital by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock worth $1,182,000 after acquiring an additional 666 shares in the last quarter. Main Management ETF Advisors LLC grew its stake in shares of Galaxy Digital by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock worth $1,593,000 after acquiring an additional 728 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Galaxy Digital by 2.3% in the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock worth $737,000 after acquiring an additional 742 shares during the last quarter.

Insiders Place Their Bets

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the completion of the transaction, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 51.53% of the company’s stock.

Analyst Upgrades and Downgrades

GLXY has been the subject of several recent analyst reports. Wall Street Zen raised Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Citizens Jmp restated a “market outperform” rating and set a $55.00 price objective on shares of Galaxy Digital in a research note on Wednesday, April 29th. Rosenblatt Securities restated a “buy” rating and set a $39.00 price objective on shares of Galaxy Digital in a research note on Thursday, April 23rd. Finally, Piper Sandler decreased their target price on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.62.

Galaxy Digital Stock Down 7.8%

GLXY stock opened at $20.94 on Wednesday. The stock has a market capitalization of $8.16 billion, a P/E ratio of -43.62 and a beta of 4.84. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.70 and a quick ratio of 1.70. Galaxy Digital Inc. has a 1-year low of $16.43 and a 1-year high of $45.92. The business has a fifty day moving average price of $27.82 and a 200-day moving average price of $25.59.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The company had revenue of $10.21 billion for the quarter. During the same period last year, the business earned ($0.86) earnings per share. Equities analysts forecast that Galaxy Digital Inc. will post -0.5 earnings per share for the current fiscal year.

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.