Investors Buy Large Volume of Call Options on Galaxy Digital (NASDAQ:GLXY)

Galaxy Digital Inc. (NASDAQ:GLXY) was the target of some unusual options trading activity on Friday. Investors acquired 19,916 call options on the company. This represents an increase of 92% compared to the average daily volume of 10,386 call options.

Galaxy Digital Stock Down 0.9%

Shares of Galaxy Digital stock opened at $18.86 on Friday. Galaxy Digital has a one year low of $6.89 and a one year high of $26.60.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. HC Wainwright upgraded shares of Galaxy Digital to a “strong-buy” rating in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Galaxy Digital to a “sell” rating in a research report on Saturday, May 24th. Finally, Atb Cap Markets upgraded shares of Galaxy Digital to a “strong-buy” rating in a research report on Tuesday, May 20th.

Insider Buying and Selling at Galaxy Digital

In other news, CEO Michael Novogratz sold 4,380,967 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $18.10, for a total value of $79,295,502.70. Following the completion of the transaction, the chief executive officer now owns 348,921 shares in the company, valued at approximately $6,315,470.10. This represents a 92.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Andrew N. Siegel sold 223,169 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $18.10, for a total transaction of $4,039,358.90. Following the completion of the transaction, the general counsel now owns 479,896 shares of the company’s stock, valued at approximately $8,686,117.60. The trade was a 31.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,668,671 shares of company stock worth $175,359,900 over the last three months.

About Galaxy Digital

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.