United Asset Strategies Inc. Takes Position in Galaxy Digital Inc. $GLXY

United Asset Strategies Inc. acquired a new position in Galaxy Digital Inc. (NASDAQ:GLXY) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 10,495 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds have also recently added to or reduced their stakes in GLXY. CWM LLC purchased a new stake in shares of Galaxy Digital in the second quarter valued at about $26,000. Centerpoint Advisors LLC purchased a new stake in Galaxy Digital in the 2nd quarter valued at approximately $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in Galaxy Digital during the 2nd quarter valued at $34,000. FNY Investment Advisers LLC purchased a new position in Galaxy Digital during the second quarter worth $60,000. Finally, SJS Investment Consulting Inc. acquired a new position in shares of Galaxy Digital in the second quarter worth $77,000.

Insider Buying and Selling

In other news, Director Douglas R. Deason bought 10,000 shares of Galaxy Digital stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $29.59 per share, with a total value of $295,900.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately $295,900. This trade represents a ∞ increase in their position. The purchase 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 transaction, the director owned 112,053 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 3,783,333 shares of company stock valued at $135,994,323.

Galaxy Digital Price Performance

NASDAQ GLXY opened at $31.27 on Thursday. The company has a 50-day moving average price of $34.45. The firm has a market cap of $11.77 billion and a price-to-earnings ratio of 26.06. Galaxy Digital Inc. has a 1-year low of $8.20 and a 1-year high of $45.92. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Analyst Ratings Changes

GLXY has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Morgan Stanley initiated coverage on shares of Galaxy Digital in a research note on Thursday, November 6th. They set an “overweight” rating and a $42.00 price target on the stock. Rosenblatt Securities upped their price objective on shares of Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Benchmark lifted 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. Finally, Wall Street Zen upgraded Galaxy Digital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.33.

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.