Galaxy Digital (NASDAQ:GLXY) Shares Gap Up – Time to Buy?

Galaxy Digital Inc. (NASDAQ:GLXY) shares gapped up before the market opened on Friday . The stock had previously closed at $19.04, but opened at $20.51. Galaxy Digital shares last traded at $20.78, with a volume of 2,366,465 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLXY. Atb Cap Markets raised Galaxy Digital to a “strong-buy” rating in a report on Tuesday, May 20th. Wall Street Zen raised Galaxy Digital to a “sell” rating in a report on Saturday, May 24th. Finally, HC Wainwright raised Galaxy Digital to a “strong-buy” rating in a report on Friday, May 16th.

Galaxy Digital Stock Performance

Insider Buying and Selling

In related news, CEO Michael Novogratz sold 4,380,967 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $18.10, for a total value of $79,295,502.70. Following the transaction, the chief executive officer now directly owns 348,921 shares in the company, valued at approximately $6,315,470.10. This represents a 92.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Erin Elizabeth Brown sold 87,704 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $22.17, for a total transaction 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 approximately $8,925,442.47. This trade represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,668,671 shares of company stock valued at $175,359,900.

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.