Capital Research Global Investors Makes New $406.10 Million Investment in Galaxy Digital Inc. $GLXY

Capital Research Global Investors purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,161,998 shares of the company’s stock, valued at approximately $406,102,000. Capital Research Global Investors owned about 4.65% of Galaxy Digital at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GLXY. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. SG Americas Securities LLC grew its holdings in shares of 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 in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of 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 in the last quarter. Encompass More Asset Management acquired a new position in shares of Galaxy Digital in the fourth quarter valued at approximately $896,000. Finally, Rovida Investment Management Ltd grew its holdings in shares of 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 in the last quarter.

Wall Street Analyst Weigh In

GLXY has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $39.00 price target on shares of Galaxy Digital in a research note on Thursday, April 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $37.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Citigroup lifted their price target on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a research note on Thursday, May 21st. Finally, The Goldman Sachs Group decreased their price target on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $25.14 on Monday. The company has a market capitalization of $9.80 billion and a PE ratio of -52.37. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92. The firm has a 50 day simple moving average of $25.76 and a 200-day simple moving average of $25.01.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.10. The business had revenue of $10.21 billion during the quarter. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. During the same quarter in the prior year, the firm posted ($0.86) EPS. On average, equities analysts predict that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the completion of the sale, the director owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 51.53% of the company’s stock.

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.