Marathon Digital (NASDAQ:MARA) CEO Sells $321,258.40 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $321,258.40. Following the completion of the sale, the chief executive officer directly owned 4,725,219 shares in the company, valued at $55,190,557.92. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Trading Down 0.3%

Shares of MARA stock opened at $11.80 on Friday. Marathon Digital Holdings, Inc. has a 12-month low of $6.66 and a 12-month high of $23.45. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average price is $9.05 and its 200-day moving average price is $11.54. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -2.98 and a beta of 5.29.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same period last year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MARA. Cantor Fitzgerald reduced their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Piper Sandler dropped their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Morgan Stanley began coverage on Marathon Digital in a research report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price target for the company. Finally, Weiss Ratings lowered Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. UBS Group AG boosted its holdings in shares of Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after purchasing an additional 6,172,110 shares during the period. Voloridge Investment Management LLC bought a new position in Marathon Digital in the third quarter worth approximately $93,066,000. Norges Bank bought a new position in Marathon Digital in the fourth quarter worth approximately $39,492,000. Vanguard Group Inc. raised its stake in Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after buying an additional 4,049,979 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in Marathon Digital in the third quarter worth approximately $68,090,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.