Marathon Digital (NASDAQ:MARA) CEO Sells 27,505 Shares of 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 Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $391,946.25. Following the sale, the chief executive officer owned 4,562,009 shares in the company, 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 document filed 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 Marathon Digital stock traded up $0.63 on Monday, hitting $14.85. The company had a trading volume of 66,775,933 shares, compared to its average volume of 34,557,028. The stock has a 50-day moving average of $12.83 and a 200-day moving average of $10.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The firm has a market capitalization of $5.66 billion, a P/E ratio of -2.60 and a beta of 5.38.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research reports. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Rosenblatt Securities boosted their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 1st. BTIG Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Monday, June 1st. Morgan Stanley decreased their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 19th. Finally, Cantor Fitzgerald dropped their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.38.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC increased its stake in Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after buying an additional 991 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Marathon Digital by 65.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after buying an additional 3,032 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Marathon Digital by 8.2% during the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock worth $257,000 after buying an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after acquiring an additional 63,903 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Marathon Digital in the 2nd quarter valued at about $183,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.