Galaxy Digital (NASDAQ:GLXY) Director Douglas Deason Buys 10,000 Shares

Galaxy Digital Inc. (NASDAQ:GLXY) Director Douglas Deason bought 10,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $29.59 per share, with a total value of $295,900.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at $295,900. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Galaxy Digital Price Performance

NASDAQ:GLXY traded up $0.23 during trading hours on Monday, hitting $31.79. 6,748,242 shares of the company were exchanged, compared to its average volume of 4,920,032. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34. Galaxy Digital Inc. has a 52-week low of $8.20 and a 52-week high of $45.92. The stock has a market cap of $11.96 billion and a PE ratio of 26.49. The company’s 50 day moving average is $34.01.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Insight Advisors LLC PA purchased a new stake in Galaxy Digital in the 3rd quarter worth approximately $283,000. Zweig DiMenna Associates LLC purchased a new position in shares of Galaxy Digital during the 3rd quarter valued at approximately $6,030,000. Vanguard Group Inc. lifted its stake in shares of Galaxy Digital by 15.5% in the 3rd quarter. Vanguard Group Inc. now owns 16,206,111 shares of the company’s stock valued at $547,950,000 after purchasing an additional 2,179,540 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Galaxy Digital during the third quarter worth $3,010,000. Finally, HighTower Advisors LLC grew its position in Galaxy Digital by 234.1% during the third quarter. HighTower Advisors LLC now owns 56,211 shares of the company’s stock valued at $1,900,000 after buying an additional 39,388 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GLXY. Jefferies Financial Group began coverage on Galaxy Digital in a research report on Wednesday, July 23rd. They issued a “buy” rating and a $35.00 target price on the stock. The Goldman Sachs Group increased their price objective on Galaxy Digital from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen upgraded Galaxy Digital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. BTIG Research upped their target price on Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, Benchmark increased their price target on shares of Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Galaxy Digital currently has an average rating of “Buy” and a consensus price target of $44.33.

Galaxy Digital Company 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.