California Public Employees Retirement System Buys Shares of 295,182 Galaxy Digital Inc. $GLXY

California Public Employees Retirement System purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 295,182 shares of the company’s stock, valued at approximately $5,446,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Galaxy Digital by 27.5% during the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock valued at $462,310,000 after buying an additional 4,463,782 shares during the last quarter. SG Americas Securities LLC increased its holdings in Galaxy Digital by 173.8% in the fourth quarter. SG Americas Securities LLC now owns 252,558 shares of the company’s stock worth $5,647,000 after buying an additional 160,305 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings 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 worth $1,808,000 after buying an additional 52,334 shares during the last quarter. Encompass More Asset Management bought a new position in Galaxy Digital during the fourth quarter valued at approximately $896,000. Finally, Capelight Capital Asset Management LP bought a new position in Galaxy Digital during the fourth quarter valued at approximately $4,025,000.

Analyst Ratings Changes

Several analysts have commented on GLXY shares. Wall Street Zen raised shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Canaccord Genuity Group restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a report on Friday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of Galaxy Digital in a research note on Wednesday, April 29th. Piper Sandler decreased their price objective on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings downgraded shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Galaxy Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.62.

Insider Transactions at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction on 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 transaction, the director owned 1,505,419 shares in the company, valued at $43,310,904.63. This trade represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 51.53% of the company’s stock.

Galaxy Digital Stock Performance

Shares of GLXY stock opened at $22.68 on Monday. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $28.06 and its two-hundred day moving average is $25.64. The company has a market cap of $8.84 billion, a PE ratio of -47.25 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating 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 company had revenue of $10.21 billion for the quarter. During the same period in the prior year, the business earned ($0.86) EPS. Equities analysts predict that Galaxy Digital Inc. will post -0.5 EPS for the current year.

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.