Galaxy Digital Inc. Invests $22.33 Million in Bullish $BLSH

Galaxy Digital Inc. purchased a new stake in Bullish (NYSE:BLSH) in the 1st quarter, Holdings Channel reports. The fund purchased 625,000 shares of the company’s stock, valued at approximately $22,331,000. Bullish makes up 1.9% of Galaxy Digital Inc.’s holdings, making the stock its 7th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rakuten Securities Inc. purchased a new position in Bullish in the fourth quarter worth $28,000. MetLife Investment Management LLC purchased a new stake in shares of Bullish during the 4th quarter worth $30,000. Strs Ohio purchased a new stake in shares of Bullish during the 4th quarter worth $30,000. SteelPeak Wealth LLC grew its stake in shares of Bullish by 13.5% during the 1st quarter. SteelPeak Wealth LLC now owns 8,577 shares of the company’s stock worth $306,000 after purchasing an additional 1,019 shares during the period. Finally, Allworth Financial LP acquired a new position in shares of Bullish during the 3rd quarter worth $65,000.

Analysts Set New Price Targets

Several research analysts have weighed in on BLSH shares. Zacks Research lowered shares of Bullish from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. reduced their price target on shares of Bullish from $43.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. Cantor Fitzgerald raised their price objective on Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Rosenblatt Securities lifted their price objective on Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.67.

Bullish Price Performance

Shares of NYSE BLSH opened at $24.00 on Friday. The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $27.44 and its 200 day moving average price is $33.46. Bullish has a 52 week low of $21.76 and a 52 week high of $118.00. The stock has a market cap of $3.62 billion and a price-to-earnings ratio of -3.66.

Bullish (NYSE:BLSH) last posted its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business’s revenue for the quarter was up 48.8% on a year-over-year basis. As a group, research analysts forecast that Bullish will post 0.54 earnings per share for the current fiscal year.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Canaccord Genuity reiterated a Buy rating on Bullish and kept its $50 price target, citing confidence in the company’s tokenization strategy and stablecoin growth. Article: Bullish Buy Rating Reiterated as Tokenization Strategy and Stablecoin Growth Support Unchanged $50 Price Target
• Positive Sentiment: Bullish announced progress on its planned $4.2 billion acquisition of Equiniti, including competition-law clearances in the UK, U.S., and Germany, which reduces regulatory risk and supports the long-term tokenized securities strategy. Article: Bullish announces Siris to acquire non-core Equiniti business lines
• Neutral Sentiment: Siris also agreed to retain Equiniti’s non-core businesses, while the main Bullish-Equiniti deal remains subject to remaining approvals and is expected to close in January 2027. This keeps the strategic deal on track, but completion is still not final. Article: Siris retains UK businesses as Equiniti sold to Bullish in $4.2B deal
• Negative Sentiment: Zacks added BLSH to its Strong Sell list, which likely added downside pressure as investors weigh caution from the ranking service. Article: New Strong Sell Stocks for July 24th
• Negative Sentiment: Broader sentiment may also be weighed down by ongoing concerns about Bullish’s fundamentals and execution, including recent earnings that missed expectations and prior insider selling activity referenced in market data.

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $43.95, for a total value of $3,516,000.00. Following the sale, the chief executive officer directly owned 80,000 shares in the company, valued at $3,516,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

About Bullish

Bullish (NYSE: BLSH) is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm’s stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.