Galaxy Digital (NASDAQ:GLXY) Insider Matthew Friedrich Sells 4,993 Shares

Galaxy Digital Inc. (NASDAQ:GLXY) insider Matthew Friedrich sold 4,993 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $27.03, for a total value of $134,960.79. Following the completion of the sale, the insider owned 275,782 shares in the company, valued at approximately $7,454,387.46. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Galaxy Digital Trading Down 4.1%

NASDAQ GLXY opened at $24.13 on Friday. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of -37.12 and a beta of 5.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. Galaxy Digital Inc. has a 52 week low of $16.43 and a 52 week high of $45.92. The stock’s 50 day moving average price is $23.13 and its two-hundred day moving average price is $24.85.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.27. The firm had revenue of $8.71 billion during the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.During the same period in the prior year, the firm earned $0.08 earnings per share. As a group, analysts anticipate that Galaxy Digital Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in Galaxy Digital by 2.1% during the third quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock worth $663,000 after buying an additional 411 shares in the last quarter. Triumph Capital Management increased its position in shares of Galaxy Digital by 13.2% during the second quarter. Triumph Capital Management now owns 4,893 shares of the company’s stock valued at $134,000 after acquiring an additional 572 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Galaxy Digital by 6.9% in the first quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after buying an additional 655 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Galaxy Digital by 1.3% during 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. Finally, Main Management ETF Advisors LLC increased its position in shares of Galaxy Digital by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock valued at $1,593,000 after buying an additional 728 shares during the period.

Analyst Ratings Changes

GLXY has been the topic of several recent research reports. Citigroup cut their target price on shares of Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 19th. Piper Sandler dropped their price target on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Rosenblatt Securities cut their price target on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. BTIG Research reduced their price objective on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Galaxy Digital in a report on Friday, August 21st. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.58.

About Galaxy Digital

Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy’s business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.