Marathon Digital (NASDAQ:MARA) CFO Sells $398,723.36 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $11.48, for a total value of $398,723.36. Following the completion of the transaction, the chief financial officer directly owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This represents a 12.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, November 17th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68.
• 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 transaction of $789,805.68.

Marathon Digital Price Performance

Shares of MARA opened at $10.18 on Friday. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.61 and a fifty-two week high of $23.45. The firm’s 50-day simple moving average is $14.64 and its two-hundred day simple moving average is $16.01. The stock has a market cap of $3.85 billion, a PE ratio of 5.66 and a beta of 5.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The company had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. Analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management lifted its position in Marathon Digital by 2,407.4% during the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares during the period. Bessemer Group Inc. raised its stake in Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the period. Estabrook Capital Management purchased a new position in shares of Marathon Digital in the 2nd quarter worth $31,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Marathon Digital in the 3rd quarter worth $47,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MARA. Rosenblatt Securities dropped 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 note on Wednesday, November 5th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, November 24th. Guggenheim initiated coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Macquarie raised their price target 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Digital has a consensus rating of “Moderate Buy” and an average price target of $23.56.

Marathon Digital Company Profile

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.