Frederick Thiel Sells 27,505 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $7.66, for a total transaction of $210,688.30. Following the completion of the sale, the chief executive officer directly owned 3,381,861 shares of the company’s stock, valued at approximately $25,905,055.26. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Marathon Digital Trading Up 6.1%

NASDAQ:MARA traded up $0.46 during trading hours on Thursday, hitting $7.96. 36,216,965 shares of the stock were exchanged, compared to its average volume of 46,197,864. The company has a market capitalization of $3.01 billion, a P/E ratio of 4.42 and a beta of 5.56. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $9.58 and its two-hundred day moving average is $13.80. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MARA. Macquarie Infrastructure raised their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Rosenblatt Securities cut their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley started coverage on shares of Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price on the stock. Cantor Fitzgerald lowered their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings lowered shares of Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vident Advisory LLC increased its holdings in shares of Marathon Digital by 71.0% in the fourth quarter. Vident Advisory LLC now owns 1,693,604 shares of the business services provider’s stock worth $15,209,000 after acquiring an additional 703,262 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Marathon Digital by 29.3% during the 4th quarter. Mackenzie Financial Corp now owns 45,045 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 10,194 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Marathon Digital by 19.6% in the 4th quarter. NewEdge Advisors LLC now owns 11,053 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 1,811 shares during the period. XTX Topco Ltd grew its position in shares of Marathon Digital by 156.2% in the 4th quarter. XTX Topco Ltd now owns 69,801 shares of the business services provider’s stock valued at $627,000 after purchasing an additional 42,551 shares during the period. Finally, Wellington Management Group LLP bought a new stake in Marathon Digital during the 4th quarter worth approximately $3,171,000. 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.