Cetera Investment Advisers Purchases New Position in Galaxy Digital Inc. $GLXY

Cetera Investment Advisers acquired a new position in Galaxy Digital Inc. (NASDAQ:GLXY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 128,618 shares of the company’s stock, valued at approximately $2,817,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC bought a new position in shares of Galaxy Digital in the second quarter worth $26,000. Centerpoint Advisors LLC purchased a new stake in Galaxy Digital during the 2nd quarter worth about $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in Galaxy Digital during the 2nd quarter worth about $34,000. PNC Financial Services Group Inc. bought a new position in Galaxy Digital in the 2nd quarter worth about $53,000. Finally, FNY Investment Advisers LLC purchased a new position in Galaxy Digital during the 2nd quarter valued at about $60,000.

Insider Buying and Selling at Galaxy Digital

In other news, CEO Michael Novogratz sold 3,000,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $36.00, for a total value of $108,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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 trade represents a 22.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,783,333 shares of company stock valued at $135,994,323.

Galaxy Digital Trading Up 3.0%

Shares of Galaxy Digital stock opened at $26.24 on Friday. The company has a market cap of $10.25 billion and a price-to-earnings ratio of 21.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.35. Galaxy Digital Inc. has a 12 month low of $8.20 and a 12 month high of $45.92. The firm’s 50-day moving average price is $33.84.

Wall Street Analysts Forecast Growth

GLXY has been the topic of a number of recent analyst reports. Maxim Group initiated coverage on shares of Galaxy Digital in a report on Thursday, July 31st. They issued a “buy” rating and a $40.00 price target on the stock. Benchmark increased their target price on shares of Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Canaccord Genuity Group raised their price target on shares of Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Morgan Stanley started coverage on shares of Galaxy Digital in a report on Thursday, November 6th. They issued an “overweight” rating and a $42.00 price target on the stock. Finally, Piper Sandler increased their price objective on Galaxy Digital from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Galaxy Digital has an average rating of “Buy” and an average target price of $43.33.

Galaxy Digital 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.