Galaxy Digital (NASDAQ:GLXY) Upgraded by Wall Street Zen to “Sell” Rating

Galaxy Digital (NASDAQ:GLXY) was upgraded by equities researchers at Wall Street Zen to a “sell” rating in a report issued on Friday.

Several other equities analysts have also issued reports on GLXY. Rosenblatt Securities began coverage on Galaxy Digital in a research note on Tuesday, June 24th. They issued a “buy” rating and a $25.00 target price on the stock. Atb Cap Markets upgraded Galaxy Digital to a “strong-buy” rating in a research note on Tuesday, May 20th. HC Wainwright raised Galaxy Digital to a “strong-buy” rating in a report on Friday, May 16th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $33.00 price target on shares of Galaxy Digital in a report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Galaxy Digital currently has an average rating of “Buy” and a consensus price target of $29.00.

Galaxy Digital Stock Performance

GLXY opened at $27.13 on Friday. The company has a 50-day moving average of $20.55. Galaxy Digital has a 1 year low of $6.89 and a 1 year high of $28.20.

Insider Transactions at Galaxy Digital

In related news, General Counsel Andrew N. Siegel sold 223,169 shares of Galaxy Digital stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $4,039,358.90. Following the completion of the sale, the general counsel owned 479,896 shares of the company’s stock, valued at $8,686,117.60. The trade was a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Erin Elizabeth Brown sold 353,956 shares of Galaxy Digital stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $18.10, for a total value of $6,406,603.60. Following the sale, the chief operating officer directly owned 198,088 shares of the company’s stock, valued at $3,585,392.80. This trade represents a 64.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,668,671 shares of company stock worth $175,359,900.

Institutional Investors Weigh In On Galaxy Digital

Institutional investors and hedge funds have recently modified their holdings of the company. SJS Investment Consulting Inc. acquired a new position in Galaxy Digital in the second quarter valued at approximately $77,000. Strategic Investment Solutions Inc. IL acquired a new position in Galaxy Digital in the second quarter valued at approximately $79,000. AdvisorNet Financial Inc acquired a new position in Galaxy Digital in the second quarter valued at approximately $125,000. Harbour Capital Advisors LLC acquired a new position in Galaxy Digital in the second quarter valued at approximately $349,000. Finally, Accurate Wealth Management LLC acquired a new position in Galaxy Digital in the second quarter valued at approximately $440,000.

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.