Insider Selling: Marathon Digital (NASDAQ:MARA) CEO Sells $330,060.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $330,060.00. Following the transaction, the chief executive officer owned 4,589,514 shares of the company’s stock, valued at approximately $55,074,168. The trade was a 0.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Stock Performance

Shares of NASDAQ MARA opened at $13.81 on Friday. The company has a market cap of $5.27 billion, a PE ratio of -2.41 and a beta of 5.41. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The company has a 50-day simple moving average of $10.62 and a 200-day simple moving average of $10.51.

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

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently bought and sold shares of the stock. Essential Partners LLC grew its holdings in Marathon Digital by 288,266.7% in the first quarter. Essential Partners LLC now owns 8,651 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 8,648 shares during the period. Western Wealth Management LLC grew its holdings in Marathon Digital by 26.1% in the first quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 5,610 shares during the period. Edgestream Partners L.P. purchased a new stake in Marathon Digital in the first quarter valued at approximately $2,864,000. Amundi grew its holdings in Marathon Digital by 124.2% in the first quarter. Amundi now owns 53,425 shares of the business services provider’s stock valued at $436,000 after purchasing an additional 29,595 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Marathon Digital by 23.7% in the first quarter. California State Teachers Retirement System now owns 412,052 shares of the business services provider’s stock valued at $3,362,000 after purchasing an additional 78,842 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

About Marathon Digital

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.