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 Marathon Digital stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the completion of the sale, the chief executive officer owned 3,755,789 shares of the company’s stock, valued at $65,275,612.82. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Marathon Digital Price Performance

NASDAQ MARA opened at $18.29 on Friday. 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 moving average of $16.60 and a 200 day moving average of $15.15. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 16.48 and a beta of 6.35. 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 released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping the consensus estimate of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The company had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same period last year, the company earned ($0.72) EPS. Marathon Digital’s revenue for the quarter was up 64.0% on a year-over-year basis. On average, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in shares of Marathon Digital by 10.0% during the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider’s stock valued at $10,549,000 after buying an additional 83,242 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Marathon Digital by 14.5% in the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after purchasing an additional 20,413 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider’s stock worth $729,000 after purchasing an additional 47,826 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Marathon Digital by 1,521.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider’s stock worth $147,000 after purchasing an additional 12,032 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Marathon Digital by 7.7% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider’s stock worth $18,396,000 after purchasing an additional 83,649 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MARA shares. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Marathon Digital in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upgraded Marathon Digital from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $22.00 in a research note on Monday, July 28th. BTIG Research restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Cantor Fitzgerald boosted their price target on Marathon Digital from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Finally, Piper Sandler boosted their price target on Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.50.

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.