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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $7.66, for a total value of $210,688.30. Following the completion of the sale, the chief executive officer directly owned 3,381,861 shares in the company, valued at $25,905,055.26. This represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Marathon Digital Stock Down 0.2%

Shares of MARA stock traded down $0.01 on Friday, hitting $7.95. 17,004,049 shares of the stock were exchanged, compared to its average volume of 44,626,766. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.01 billion, a P/E ratio of 4.43 and a beta of 5.56. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The business has a 50-day moving average of $9.58 and a 200 day moving average of $13.80.

Institutional Trading of Marathon Digital

A number of large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management increased its stake in shares of Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,300 shares during the last quarter. Bessemer Group Inc. grew its holdings in Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the period. Estabrook Capital Management bought a new position in Marathon Digital during the second quarter worth about $31,000. Salomon & Ludwin LLC acquired a new position in Marathon Digital during the third quarter worth approximately $47,000. Finally, IFP Advisors Inc raised its stake in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after buying an additional 2,001 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Analysts Set New Price Targets

MARA has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Weiss Ratings downgraded shares of Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Cantor Fitzgerald lowered their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley began coverage on shares of Marathon Digital in a research report on Monday, February 9th. They set an “underweight” rating and a $8.00 price target on the stock. Finally, Rosenblatt Securities reduced their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.00.

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.