Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 34,732 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the completion of the transaction, the chief financial officer directly owned 283,298 shares of the company’s stock, valued at $3,396,743.02. This represents a 10.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Salman Hassan Khan also recently made the following trade(s):

• On Wednesday, October 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The stock was sold at an average price of $22.74, for a total value of $789,805.68.
• On Monday, September 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The shares were sold at an average price of $16.24, for a total value of $564,047.68.

Marathon Digital Stock Performance

Marathon Digital stock opened at $11.48 on Thursday. Marathon Digital Holdings, Inc. has a 52 week low of $9.81 and a 52 week high of $30.28. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $4.34 billion, a P/E ratio of 10.38 and a beta of 6.40. The stock has a 50 day moving average of $17.67 and a 200-day moving average of $16.61.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. On average, analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Marathon Digital by 8.4% during the second quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock valued at $35,846,000 after buying an additional 177,771 shares in the last quarter. Emerald Advisers LLC boosted its position in Marathon Digital by 77.4% during the 2nd quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock worth $9,088,000 after acquiring an additional 252,864 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in Marathon Digital by 91.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after acquiring an additional 165,688 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of 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 valued at $1,848,000 after purchasing an additional 20,413 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Marathon Digital by 12.0% during the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after purchasing an additional 34,100 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MARA shares. Rosenblatt Securities reduced their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday. Macquarie lifted their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald decreased their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Compass Point initiated coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Marathon Digital currently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.