Galaxy Digital Inc. (NASDAQ:GLXY) Receives $43.33 Average Target Price from Analysts

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have earned an average recommendation of “Buy” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $43.3333.

A number of research analysts have recently issued reports on GLXY shares. Wall Street Zen upgraded Galaxy Digital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Benchmark raised their price objective on Galaxy Digital from $40.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Canaccord Genuity Group lifted their target price on Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Rosenblatt Securities increased their price target on shares of Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Galaxy Digital in a report on Monday.

Galaxy Digital Stock Up 2.8%

Shares of GLXY stock opened at $25.48 on Friday. The stock has a market capitalization of $9.95 billion and a price-to-earnings ratio of 21.23. Galaxy Digital has a 52-week low of $8.20 and a 52-week high of $45.92. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The company’s 50 day simple moving average is $34.11.

Insider Activity

In other Galaxy Digital news, Director Douglas R. Deason acquired 10,000 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $29.59 per share, with a total value of $295,900.00. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $295,900. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Medina Rhonda Adams sold 33,333 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $29.83, for a total value of $994,323.39. Following the transaction, the director owned 112,053 shares in the company, valued at approximately $3,342,540.99. This trade represents a 22.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,783,333 shares of company stock valued at $135,994,323 in the last ninety days.

Institutional Investors Weigh In On Galaxy Digital

Several institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. acquired a new position in shares of Galaxy Digital during the third quarter valued at about $401,000. Faithward Advisors LLC acquired a new stake in Galaxy Digital in the 3rd quarter worth approximately $1,664,000. XTX Topco Ltd purchased a new stake in Galaxy Digital during the 3rd quarter worth approximately $1,466,000. Two Seas Capital LP purchased a new stake in Galaxy Digital during the 3rd quarter worth approximately $1,183,000. Finally, Verition Fund Management LLC acquired a new position in Galaxy Digital during the 3rd quarter valued at approximately $1,265,000.

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.