Capital Research Global Investors Purchases New Shares in Galaxy Digital Inc. $GLXY

Capital Research Global Investors purchased a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 18,161,998 shares of the company’s stock, valued at approximately $406,102,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Galaxy Digital by 27.5% in the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock valued at $462,310,000 after purchasing an additional 4,463,782 shares during the period. SG Americas Securities LLC increased its stake in Galaxy Digital by 173.8% in the fourth quarter. SG Americas Securities LLC now owns 252,558 shares of the company’s stock valued at $5,647,000 after purchasing an additional 160,305 shares during the period. Pictet Asset Management Holding SA increased its stake in Galaxy Digital by 184.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 80,708 shares of the company’s stock valued at $1,808,000 after purchasing an additional 52,334 shares during the period. Encompass More Asset Management acquired a new position in Galaxy Digital in the fourth quarter valued at $896,000. Finally, Rovida Investment Management Ltd increased its stake in Galaxy Digital by 21.2% in the third quarter. Rovida Investment Management Ltd now owns 1,861,200 shares of the company’s stock valued at $62,890,000 after purchasing an additional 325,000 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GLXY shares. Chardan Capital restated a “buy” rating and issued a $35.00 price objective on shares of Galaxy Digital in a research note on Monday, May 4th. Citigroup lifted their price objective on shares of Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings lowered shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Finally, BTIG Research restated a “buy” rating and issued a $50.00 price objective on shares of Galaxy Digital in a research note on Thursday, May 21st. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Galaxy Digital has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Insider Buying and Selling at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00. Following the sale, the director directly owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 51.53% of the stock is currently owned by company insiders.

Galaxy Digital Price Performance

Shares of Galaxy Digital stock opened at $25.14 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92. The company has a market cap of $9.80 billion and a P/E ratio of -52.37. The firm has a fifty day moving average of $25.76 and a two-hundred day moving average of $25.01.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. The business had revenue of $10.21 billion for the quarter. During the same period last year, the company earned ($0.86) earnings per share. On average, analysts forecast that Galaxy Digital Inc. will post -0.32 earnings per share for the current year.

About Galaxy Digital

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.