BI Asset Management Fondsmaeglerselskab A S Lowers Stock Position in Galaxy Digital Inc. $GLXY

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Galaxy Digital Inc. (NASDAQ:GLXY) by 84.8% during the fourth quarter, Holdings Channel reports. The firm owned 29,426 shares of the company’s stock after selling 163,572 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Galaxy Digital were worth $658,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in Galaxy Digital in the 4th quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. purchased a new position in Galaxy Digital in the 4th quarter worth approximately $46,000. CWM LLC lifted its holdings in Galaxy Digital by 108.2% in the 4th quarter. CWM LLC now owns 2,954 shares of the company’s stock worth $66,000 after purchasing an additional 1,535 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Galaxy Digital in the 4th quarter worth approximately $71,000. Finally, JPMorgan Chase & Co. purchased a new position in Galaxy Digital in the 2nd quarter worth approximately $80,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a report on Thursday, May 21st. Rosenblatt Securities reissued a “buy” rating and issued a $39.00 price target on shares of Galaxy Digital in a report on Thursday, April 23rd. The Goldman Sachs Group lowered their price target on Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a report on Friday, April 24th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $55.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.50.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $30.15 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.70 and a quick ratio of 1.70. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92. The stock’s 50 day simple moving average is $26.53 and its two-hundred day simple moving average is $25.13. The company has a market cap of $11.76 billion and a price-to-earnings ratio of -62.81.

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

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the sale, the director owned 1,505,419 shares of the company’s stock, valued at $43,310,904.63. The trade was a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 51.53% of the stock is currently owned by insiders.

Galaxy Digital Profile

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.