Galaxy Digital (NASDAQ:GLXY) Given New $44.00 Price Target at Rosenblatt Securities

Galaxy Digital (NASDAQ:GLXY) had its target price hoisted by Rosenblatt Securities from $35.00 to $44.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. BTIG Research reiterated a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their price objective on shares of Galaxy Digital from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of Galaxy Digital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Galaxy Digital in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $38.63.

Galaxy Digital Stock Performance

Galaxy Digital stock opened at $39.65 on Monday. Galaxy Digital has a 1 year low of $8.20 and a 1 year high of $44.33. The firm has a 50 day moving average of $31.13. 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 (NASDAQ:GLXY) last released its earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Transactions at Galaxy Digital

In related news, Director Medina Rhonda Adams sold 33,333 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $29.83, for a total value of $994,323.39. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Erin Elizabeth Brown sold 350,000 shares of the company’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 completion of the sale, the chief operating officer directly owned 198,088 shares in the company, valued at $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. Insiders sold a total of 4,183,333 shares of company stock valued at $146,851,323 over the last ninety days.

Institutional Trading of Galaxy Digital

Several institutional investors have recently added to or reduced their stakes in GLXY. CWM LLC raised its holdings in shares of Galaxy Digital by 20.8% during the third quarter. CWM LLC now owns 1,419 shares of the company’s stock worth $48,000 after purchasing an additional 244 shares during the period. Manchester Capital Management LLC acquired a new stake in shares of Galaxy Digital during the second quarter worth $32,000. Centerpoint Advisors LLC acquired a new stake in shares of Galaxy Digital during the second quarter worth $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Galaxy Digital during the second quarter worth $34,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Galaxy Digital during the second quarter worth $37,000.

Galaxy Digital Company Profile

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.