Galaxy Digital (NASDAQ:GLXY) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Galaxy Digital (NASDAQ:GLXY) in a report issued on Thursday,Benzinga reports. Canaccord Genuity Group currently has a $33.00 price objective on the stock.

Several other research firms also recently issued reports on GLXY. Wall Street Zen raised shares of Galaxy Digital to a “sell” rating in a research report on Saturday, May 24th. HC Wainwright raised shares of Galaxy Digital to a “strong-buy” rating in a research report on Friday, May 16th. Rosenblatt Securities initiated coverage on shares of Galaxy Digital in a research report on Tuesday, June 24th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Atb Cap Markets raised shares of Galaxy Digital to a “strong-buy” rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $29.00.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $21.75 on Thursday. Galaxy Digital has a 12-month low of $6.89 and a 12-month high of $26.60.

Insider Activity

In other Galaxy Digital news, COO Erin Elizabeth Brown sold 353,956 shares of Galaxy Digital stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $18.10, for a total transaction of $6,406,603.60. Following the transaction, the chief operating officer directly owned 198,088 shares of the company’s stock, valued at $3,585,392.80. The trade was a 64.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher C. Ferraro sold 1,250,000 shares of Galaxy Digital stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $22,625,000.00. Following the transaction, the insider directly owned 1,437,921 shares in the company, valued at $26,026,370.10. This represents a 46.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,668,671 shares of company stock valued at $175,359,900 over the last quarter.

About Galaxy Digital

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.