Galaxy Digital (NASDAQ:GLXY) Given New $28.00 Price Target at Citigroup

Galaxy Digital (NASDAQ:GLXY) had its price objective increased by Citigroup from $25.00 to $28.00 in a research report report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms have also recently commented on GLXY. Morgan Stanley reduced their target price on Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Galaxy Digital in a research note on Wednesday, February 4th. The Goldman Sachs Group cut their price objective on Galaxy Digital from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and set a $46.00 price objective on shares of Galaxy Digital in a research report on Friday, January 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.77.

Galaxy Digital Price Performance

GLXY stock opened at $21.58 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.60 and a quick ratio of 1.60. Galaxy Digital has a one year low of $8.20 and a one year high of $45.92. The stock has a market cap of $8.43 billion and a PE ratio of 179.83. The firm has a 50 day simple moving average of $24.48 and a two-hundred day simple moving average of $28.18.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.16. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $13.08 billion.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason purchased 25,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was acquired at an average cost of $20.80 per share, for a total transaction of $520,000.00. Following the completion of the transaction, the director directly owned 59,000 shares in the company, valued at approximately $1,227,200. This represents a 73.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Galaxy Digital

Several institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC bought a new position in Galaxy Digital during the 2nd quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd lifted its position in Galaxy Digital by 183.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock valued at $32,000 after purchasing an additional 928 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Galaxy Digital during the third quarter valued at approximately $34,000. Picton Mahoney Asset Management grew its holdings in shares of Galaxy Digital by 200.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in shares of Galaxy Digital by 1,110.0% in the third quarter. ORG Partners LLC now owns 968 shares of the company’s stock worth $36,000 after purchasing an additional 888 shares during the last quarter.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) is a diversified financial services and investment management firm dedicated to the digital assets and blockchain technology sectors. Established in 2018 by Mike Novogratz, the company operates across trading, asset management, principal investing and advisory services. Galaxy Digital caters to institutional clients, high-net-worth investors and corporations seeking exposure to cryptocurrencies, decentralized finance (DeFi) protocols and other blockchain-based assets.

In its trading division, Galaxy Digital provides market-making, execution and over-the-counter (OTC) solutions for a wide range of digital tokens.