Galaxy Digital Inc. (NASDAQ:GLXY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $42.7692.

Several equities research analysts have recently commented on GLXY shares. Morgan Stanley reduced their price target on shares of Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Weiss Ratings downgraded shares of Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Citizens Jmp restated a “market outperform” rating and set a $60.00 target price on shares of Galaxy Digital in a research report on Wednesday, February 4th. The Goldman Sachs Group reduced their target price on shares of Galaxy Digital from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Finally, Citigroup increased their price target on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 18th.

Insider Activity at Galaxy Digital

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

Institutional Trading of Galaxy Digital

Several hedge funds have recently bought and sold shares of GLXY. Vanguard Group Inc. raised its stake in shares of Galaxy Digital by 27.5% in the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after buying an additional 4,463,782 shares during the period. Capital Research Global Investors purchased a new position in shares of Galaxy Digital during the 4th quarter valued at about $406,102,000. Balyasny Asset Management L.P. bought a new position in shares of Galaxy Digital during the 2nd quarter valued at approximately $113,435,000. Invesco Ltd. increased its holdings in Galaxy Digital by 31.1% in the 4th quarter. Invesco Ltd. now owns 3,082,187 shares of the company’s stock worth $68,918,000 after acquiring an additional 731,215 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Galaxy Digital by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock worth $54,424,000 after acquiring an additional 279,818 shares in the last quarter.

Galaxy Digital Stock Performance

GLXY stock opened at $18.00 on Friday. 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 1 year low of $8.20 and a 1 year high of $45.92. The company has a market cap of $7.00 billion and a P/E ratio of 150.00. The stock’s fifty day moving average price is $23.41 and its 200-day moving average price is $27.99.

Galaxy Digital (NASDAQ:GLXY) last posted its earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.16. The firm had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $13.08 billion.

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.