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 stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $329,784.95. Following the completion of the sale, the chief executive officer directly owned 3,582,994 shares in the company, valued at $42,960,098.06. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marathon Digital Trading Down 6.6%

NASDAQ MARA traded down $0.78 during trading on Wednesday, hitting $11.10. The stock had a trading volume of 51,315,984 shares, compared to its average volume of 46,456,535. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The stock has a 50 day simple moving average of $17.76 and a 200 day simple moving average of $16.65. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.00 and a beta of 6.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Institutional Trading of Marathon Digital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Danske Bank A S purchased a new position in Marathon Digital in the third quarter valued at about $55,000. Caitong International Asset Management Co. Ltd acquired a new position in Marathon Digital during the 3rd quarter valued at about $304,000. Second Line Capital LLC grew its stake in shares of Marathon Digital by 5.0% during the third quarter. Second Line Capital LLC now owns 248,996 shares of the business services provider’s stock worth $4,547,000 after acquiring an additional 11,747 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Marathon Digital by 42.0% in the 3rd quarter. NewEdge Advisors LLC now owns 9,242 shares of the business services provider’s stock worth $169,000 after purchasing an additional 2,735 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Marathon Digital in the third quarter worth $192,000. Institutional investors own 44.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MARA. Macquarie lifted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. BTIG Research reiterated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Compass Point initiated coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Marathon Digital Company Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.