Galaxy Digital Inc. $GLXY Stock Position Trimmed by Rovida Investment Management Ltd

Rovida Investment Management Ltd decreased its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,711,200 shares of the company’s stock after selling 100,000 shares during the period. Galaxy Digital makes up about 4.0% of Rovida Investment Management Ltd’s holdings, making the stock its 7th biggest position. Rovida Investment Management Ltd’s holdings in Galaxy Digital were worth $31,572,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Galaxy Digital by 27.5% in the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after acquiring an additional 4,463,782 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Galaxy Digital by 184.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 80,708 shares of the company’s stock worth $1,808,000 after purchasing an additional 52,334 shares during the period. Encompass More Asset Management acquired a new stake in Galaxy Digital during the fourth quarter worth approximately $896,000. Capelight Capital Asset Management LP bought a new stake in Galaxy Digital in the fourth quarter worth approximately $4,025,000. Finally, Riposte Capital LLC bought a new stake in Galaxy Digital in the first quarter worth approximately $2,952,000.

Galaxy Digital Stock Performance

GLXY opened at $21.52 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. The company’s fifty day moving average price is $27.47 and its two-hundred day moving average price is $25.51. Galaxy Digital Inc. has a 1-year low of $16.43 and a 1-year high of $45.92. The company has a market cap of $8.39 billion, a price-to-earnings ratio of -44.83 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY) last released 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 firm had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. During the same period last year, the business posted ($0.86) earnings per share. On average, analysts expect that Galaxy Digital Inc. will post -0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLXY has been the topic of a number of research analyst reports. Piper Sandler cut their price target on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Canaccord Genuity Group reiterated a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research report on Friday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Galaxy Digital in a research note on Friday, May 1st. Chardan Capital restated a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. Finally, BTIG Research restated a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a report on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.58.

Insider Activity at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 1,505,419 shares in the company, valued at $43,310,904.63. This represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 51.53% of the stock is currently owned by insiders.

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.