Galaxy Digital Inc. (NASDAQ:GLXY – Get Free Report) was the target of some unusual options trading on Monday. Investors purchased 84,604 call options on the company. This is an increase of approximately 243% compared to the average volume of 24,634 call options.
Wall Street Analyst Weigh In
Several research firms have weighed in on GLXY. Weiss Ratings lowered Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Piper Sandler reduced their target price on Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Canaccord Genuity Group restated a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a research note on Friday, April 24th. The Goldman Sachs Group dropped their price objective on Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of Galaxy Digital in a report on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Galaxy Digital currently has an average rating of “Moderate Buy” and an average target price of $39.50.
Check Out Our Latest Report on Galaxy Digital
Galaxy Digital Price Performance
Galaxy Digital (NASDAQ:GLXY – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The firm had revenue of $10.21 billion for the quarter. During the same quarter last year, the firm posted ($0.86) EPS. As a group, sell-side analysts anticipate that Galaxy Digital will post -0.32 EPS for the current year.
Insider Transactions at Galaxy Digital
In related news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction that occurred 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 sale, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This trade represents a 14.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 51.53% of the company’s stock.
Institutional Investors Weigh In On Galaxy Digital
A number of institutional investors have recently made changes to their positions in GLXY. JPMorgan Chase & Co. bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $80,000. Invesco Ltd. bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $53,233,000. EverSource Wealth Advisors LLC bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $116,000. First Trust Advisors LP bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $13,376,000. Finally, Cerity Partners LLC bought a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $219,000.
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.
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