California Public Employees Retirement System Buys Shares of 295,182 Galaxy Digital Inc. $GLXY

California Public Employees Retirement System acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 295,182 shares of the company’s stock, valued at approximately $5,446,000. California Public Employees Retirement System owned approximately 0.08% of Galaxy Digital as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after purchasing an additional 411 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Galaxy Digital by 6.9% in the first quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after buying an additional 655 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Galaxy Digital by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock valued at $1,182,000 after buying an additional 666 shares during the period. Main Management ETF Advisors LLC boosted its stake in Galaxy Digital by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock valued at $1,593,000 after buying an additional 728 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Galaxy Digital by 2.3% during the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock valued at $737,000 after buying an additional 742 shares in the last quarter.

Galaxy Digital Price Performance

GLXY stock opened at $22.68 on Monday. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92. The firm has a 50-day moving average of $28.06 and a two-hundred day moving average of $25.64. The firm has a market capitalization of $8.84 billion, a PE ratio of -47.25 and a beta of 4.84. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.10. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. The business had revenue of $10.21 billion for the quarter. During the same period last year, the business earned ($0.86) earnings per share. On average, analysts forecast that Galaxy Digital Inc. will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

GLXY has been the topic of several research reports. Weiss Ratings cut shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Rosenblatt Securities restated a “buy” rating and set a $39.00 price objective on shares of Galaxy Digital in a research report on Thursday, April 23rd. Zacks Research cut shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Galaxy Digital in a research note on Friday, May 1st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a report on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.62.

Insider Activity at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the completion of the sale, the director owned 1,505,419 shares of the company’s stock, valued at $43,310,904.63. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 51.53% of the stock is currently owned by company insiders.

About Galaxy Digital

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.