Marathon Digital (NASDAQ:MARA) CEO Frederick Thiel Sells 27,505 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the sale, the chief executive officer directly owned 3,718,700 shares in the company, valued at approximately $72,774,959. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Marathon Digital Stock Performance

NASDAQ MARA opened at $20.73 on Tuesday. The firm’s fifty day moving average price is $17.41 and its two-hundred day moving average price is $16.09. The stock has a market cap of $7.68 billion, a PE ratio of 18.68 and a beta of 6.33. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. 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 posted its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million for the quarter, compared to analysts’ expectations of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company’s revenue was up 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. On average, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Institutional Trading of Marathon Digital

Several large investors have recently made changes to their positions in MARA. Fifth Third Bancorp raised its stake in Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the period. CX Institutional raised its stake in Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock worth $105,000 after buying an additional 749 shares during the period. Archer Investment Corp raised its stake in Marathon Digital by 10.9% during the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after buying an additional 750 shares during the period. Ranch Capital Advisors Inc. raised its stake in Marathon Digital by 5.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock worth $168,000 after buying an additional 805 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Marathon Digital by 2.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider’s stock worth $556,000 after buying an additional 934 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MARA. Piper Sandler boosted their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Compass Point began coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a “neutral” rating and a $18.00 price objective on the stock. Rosenblatt Securities boosted their price objective on shares of Marathon Digital from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, Cantor Fitzgerald boosted their price objective on shares of Marathon Digital from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

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.