Galaxy Digital (NASDAQ:GLXY) Given New $34.00 Price Target at The Goldman Sachs Group

Galaxy Digital (NASDAQ:GLXY) had its target price boosted by The Goldman Sachs Group from $30.00 to $34.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also weighed in on GLXY. Canaccord Genuity Group boosted their target price on Galaxy Digital from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Benchmark boosted their target price on Galaxy Digital from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Maxim Group assumed coverage on Galaxy Digital in a research report on Thursday, July 31st. They issued a “buy” rating and a $40.00 target price for the company. Piper Sandler boosted their target price on Galaxy Digital from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Wall Street Zen raised Galaxy Digital from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $36.88.

Galaxy Digital Stock Up 7.4%

GLXY opened at $38.84 on Monday. The stock has a 50-day moving average of $28.63. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. Galaxy Digital has a 1 year low of $8.20 and a 1 year high of $39.68.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14. The company had revenue of $8.66 billion during the quarter, compared to analysts’ expectations of $13.11 billion.

Insider Buying and Selling

In related news, COO Erin Elizabeth Brown sold 350,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $26.98, for a total value of $9,443,000.00. Following the completion of the sale, the chief operating officer directly owned 198,088 shares of the company’s stock, valued at approximately $5,344,414.24. This represents a 63.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Medina Rhonda Adams sold 33,333 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $29.83, for a total transaction of $994,323.39. Following the completion of the sale, the director directly owned 112,053 shares of the company’s stock, valued at $3,342,540.99. This represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,333 shares of company stock valued at $11,851,323.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLXY. Harbour Capital Advisors LLC bought a new position in Galaxy Digital in the 2nd quarter worth approximately $349,000. AdvisorNet Financial Inc bought a new position in Galaxy Digital in the 2nd quarter worth approximately $125,000. SJS Investment Consulting Inc. bought a new position in Galaxy Digital in the 2nd quarter worth approximately $77,000. Accurate Wealth Management LLC bought a new position in Galaxy Digital in the 2nd quarter worth approximately $440,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Galaxy Digital in the 2nd quarter worth approximately $79,000.

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.