Rosenblatt Securities Initiates Coverage on Galaxy Digital (NASDAQ:GLXY)

Research analysts at Rosenblatt Securities initiated coverage on shares of Galaxy Digital (NASDAQ:GLXY) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $25.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 35.35% from the company’s current price.

A number of other research firms have also recently issued reports on GLXY. Wall Street Zen upgraded shares of Galaxy Digital to a “sell” rating in a research note on Saturday, May 24th. Atb Cap Markets upgraded shares of Galaxy Digital to a “strong-buy” rating in a research note on Tuesday, May 20th. Finally, HC Wainwright upgraded shares of Galaxy Digital to a “strong-buy” rating in a research note on Friday, May 16th.

Galaxy Digital Price Performance

Shares of GLXY opened at $18.47 on Tuesday. Galaxy Digital has a 12 month low of $6.89 and a 12 month high of $26.60.

Insider Buying and Selling at Galaxy Digital

In other Galaxy Digital news, CEO Michael Novogratz sold 3,372,875 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total value of $61,049,037.50. Following the transaction, the chief executive officer now directly owns 348,921 shares in the company, valued at approximately $6,315,470.10. This trade represents a 90.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Erin Elizabeth Brown sold 87,704 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $22.17, for a total value of $1,944,397.68. Following the completion of the transaction, the chief operating officer now owns 402,591 shares in the company, valued at $8,925,442.47. The trade was a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,668,671 shares of company stock worth $175,359,900.

About Galaxy Digital

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.