Analysts Set Galaxy Digital Inc. (NASDAQ:GLXY) PT at $43.33

Galaxy Digital Inc. (NASDAQ:GLXY) has earned an average recommendation of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $43.3333.

A number of equities research analysts have recently commented on the stock. Maxim Group assumed coverage on shares of Galaxy Digital in a research note on Thursday, July 31st. They issued a “buy” rating and a $40.00 price objective on the stock. Canaccord Genuity Group upped their price target on shares of Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Galaxy Digital in a research report on Monday. Wall Street Zen raised Galaxy Digital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, The Goldman Sachs Group set a $30.00 target price on Galaxy Digital in a research report on Friday, November 21st.

Insiders Place Their Bets

In related news, Director Medina Rhonda Adams sold 33,333 shares of the business’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 transaction, the director owned 112,053 shares in the company, valued at $3,342,540.99. The trade was a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Novogratz sold 3,000,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total transaction of $108,000,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,783,333 shares of company stock valued at $135,994,323 over the last 90 days.

Hedge Funds Weigh In On Galaxy Digital

Several institutional investors have recently made changes to their positions in the stock. CWM LLC acquired a new stake in shares of Galaxy Digital in the 2nd quarter valued at about $26,000. Manchester Capital Management LLC bought a new position in Galaxy Digital in the second quarter worth approximately $32,000. Centerpoint Advisors LLC bought a new position in Galaxy Digital in the second quarter worth approximately $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in Galaxy Digital in the second quarter valued at approximately $34,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Galaxy Digital during the third quarter valued at approximately $34,000.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $26.24 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.35. Galaxy Digital has a fifty-two week low of $8.20 and a fifty-two week high of $45.92. The firm’s 50 day moving average price is $33.84. The firm has a market cap of $10.25 billion and a P/E ratio of 21.87.

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.