Marathon Digital (NASDAQ:MARA) CEO Sells $391,946.25 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the sale, the chief executive officer directly owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Trading Down 5.0%

MARA opened at $13.96 on Thursday. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The company has a fifty day moving average of $13.00 and a 200-day moving average of $10.65. The stock has a market cap of $5.32 billion, a PE ratio of -2.44 and a beta of 5.38. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors have recently made changes to their positions in MARA. Western Wealth Management LLC boosted its position in shares of Marathon Digital by 26.1% during the 1st quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock worth $221,000 after purchasing an additional 5,610 shares in the last quarter. Empowered Funds LLC increased its position in Marathon Digital by 14.2% in the 1st quarter. Empowered Funds LLC now owns 13,091 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,632 shares in the last quarter. DV Trading LLC acquired a new position in Marathon Digital during the 1st quarter worth approximately $99,000. Essential Partners LLC boosted its holdings in Marathon Digital by 288,266.7% in the first quarter. Essential Partners LLC now owns 8,651 shares of the business services provider’s stock worth $71,000 after acquiring an additional 8,648 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in Marathon Digital in the first quarter worth approximately $2,864,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citizens Jmp assumed coverage on Marathon Digital in a research note on Wednesday. They issued a “market outperform” rating and a $24.00 price objective on the stock. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Cantor Fitzgerald dropped their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.00.

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.