Galaxy Digital (NASDAQ:GLXY) Director Douglas Deason Buys 12,000 Shares of Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Douglas Deason bought 12,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $21.54 per share, with a total value of $258,480.00. Following the transaction, the director owned 71,000 shares in the company, valued at $1,529,340. The trade was a 20.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Galaxy Digital Stock Performance

Shares of NASDAQ GLXY opened at $20.95 on Friday. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92. The company has a market cap of $8.17 billion, a PE ratio of -32.23 and a beta of 5.06. The stock has a 50 day simple moving average of $25.71 and a 200-day simple moving average of $24.79. 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 results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.27. Galaxy Digital had a negative return on equity of 6.10% and a negative net margin of 0.75%.The company had revenue of $8.71 billion during the quarter. During the same quarter last year, the firm posted $0.08 EPS. On average, equities research analysts forecast that Galaxy Digital Inc. will post -0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Wall Street Zen raised Galaxy Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. BTIG Research cut their target price on Galaxy Digital from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Piper Sandler decreased their price target on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Finally, Rosenblatt Securities decreased their target price on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Ten 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 MarketBeat.com, Galaxy Digital currently has an average rating of “Moderate Buy” and an average price target of $38.83.

Institutional Investors Weigh In On Galaxy Digital

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Galaxy Digital by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock worth $663,000 after purchasing an additional 411 shares during the period. Private Advisor Group LLC raised its stake in Galaxy Digital by 6.9% during the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after purchasing an additional 655 shares during the period. Dimensional Fund Advisors LP raised its stake in Galaxy Digital by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock valued at $1,182,000 after purchasing an additional 666 shares during the period. Main Management ETF Advisors LLC lifted its holdings 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 valued at $1,593,000 after purchasing an additional 728 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings 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 valued at $737,000 after purchasing an additional 742 shares in the last quarter.

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.