Salman Hassan Khan Sells 16,000 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $192,000.00. Following the sale, the chief financial officer directly owned 425,066 shares of the company’s stock, valued at $5,100,792. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Salman Hassan Khan also recently made the following trade(s):

• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $11.68, for a total transaction of $186,880.00.
• On Tuesday, March 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $9.18, for a total transaction of $146,880.00.

Marathon Digital Stock Up 3.0%

Shares of NASDAQ:MARA opened at $13.55 on Friday. Marathon Digital Holdings, Inc. has a 52-week low of $6.66 and a 52-week high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $10.52 and its 200 day moving average is $10.48. The stock has a market cap of $5.17 billion, a P/E ratio of -2.37 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 234.83% and a negative return on equity of 23.20%. The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.67 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on MARA shares. Cantor Fitzgerald reduced their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Rosenblatt Securities lifted their price objective on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Finally, Morgan Stanley cut their target price on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Marathon Digital currently has an average rating of “Hold” and an average price target of $18.38.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently modified their holdings of MARA. UBS Group AG increased its holdings in Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after purchasing an additional 6,172,110 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Marathon Digital in the 3rd quarter valued at about $93,066,000. Norges Bank purchased a new position in shares of Marathon Digital during the fourth quarter worth approximately $39,492,000. Vanguard Group Inc. grew its position in Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after purchasing an additional 4,049,979 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in Marathon Digital in the 3rd quarter valued at about $68,090,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.