Galaxy Digital Inc. (NASDAQ:GLXY) Receives $35.63 Consensus PT from Brokerages

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have earned an average recommendation of “Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $35.6250.

Several research analysts have issued reports on GLXY shares. Benchmark lifted their price target on shares of Galaxy Digital from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Canaccord Genuity Group lifted their price objective on shares of Galaxy Digital from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Maxim Group began coverage on shares of Galaxy Digital in a research report on Thursday, July 31st. They set a “buy” rating and a $40.00 price objective on the stock. Piper Sandler boosted their price target on shares of Galaxy Digital from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Finally, Rosenblatt Securities lowered their price target on shares of Galaxy Digital from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th.

Galaxy Digital Trading Up 10.7%

NASDAQ GLXY opened at $28.87 on Tuesday. Galaxy Digital has a 12 month low of $8.20 and a 12 month high of $33.17. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $25.65.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The company had revenue of $8.66 billion for the quarter, compared to analyst estimates of $13.11 billion.

Insider Buying and Selling at Galaxy Digital

In other news, Director Richard Tavoso sold 50,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $28.28, for a total transaction of $1,414,000.00. Following the transaction, the director directly owned 400,000 shares in the company, valued at $11,312,000. The trade was a 11.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Erin Elizabeth Brown sold 350,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the transaction, the chief operating officer owned 198,088 shares in the company, valued at approximately $5,344,414.24. This represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Galaxy Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC acquired a new stake in shares of Galaxy Digital in the 2nd quarter valued at $26,000. Manchester Capital Management LLC bought a new stake in Galaxy Digital in the second quarter worth $32,000. Centerpoint Advisors LLC bought a new stake in Galaxy Digital in the second quarter worth $33,000. DHJJ Financial Advisors Ltd. bought a new stake in Galaxy Digital in the second quarter worth $34,000. Finally, TD Waterhouse Canada Inc. bought a new stake in Galaxy Digital in the second quarter worth $37,000.

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.