Marathon Digital (NASDAQ:MARA) CEO Sells $391,946.25 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $391,946.25. Following the transaction, the chief executive officer directly owned 4,562,009 shares of the company’s stock, valued at $65,008,628.25. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Stock Up 4.4%

Shares of NASDAQ:MARA traded up $0.63 during trading on Monday, hitting $14.85. 66,775,933 shares of the company were exchanged, compared to its average volume of 34,557,028. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -2.60 and a beta of 5.38. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The firm has a fifty day moving average price of $12.83 and a two-hundred day moving average price of $10.63. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MARA. Morgan Stanley lowered their target price on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 19th. Cantor Fitzgerald cut their price target 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. HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Rosenblatt Securities boosted their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.38.

Institutional Trading of Marathon Digital

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake 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 acquiring an additional 4,049,979 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Marathon Digital during the 3rd quarter valued at $4,643,000. Farallon Capital Management LLC grew its holdings in shares of Marathon Digital by 338.3% during the 3rd quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock worth $66,832,000 after purchasing an additional 2,825,000 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Marathon Digital in the fourth quarter worth $10,201,000. Finally, Brevan Howard Capital Management LP increased its position in shares of Marathon Digital by 238.7% in the third quarter. Brevan Howard Capital Management LP now owns 195,260 shares of the business services provider’s stock worth $3,565,000 after purchasing an additional 137,606 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

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.