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

Key Points

• CEO Frederick Thiel sold 27,505 shares of Marathon Digital stock at an average price of $19.57, totaling approximately $538,273, which decreased his ownership by 0.73% to 3,718,700 shares.
• Marathon Digital's stock is currently trading at around $20.73, with a market capitalization of $7.68 billion and a price-to-earnings ratio of 18.68.
• Equities analysts have a consensus rating of "Moderate Buy" for Marathon Digital, with price targets ranging from $18.00 to $30.00 based on recent reports.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CEO Frederick Thiel sold 27,505 shares of the company's stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $19.57, for a total value of $538,272.85. Following the completion of the sale, the chief executive officer owned 3,718,700 shares of the company's stock, valued at $72,774,959. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marathon Digital Price Performance

MARA traded up $1.16 during trading on Monday, reaching $20.73. The stock had a trading volume of 49,074,748 shares, compared to its average volume of 65,159,896. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 18.68 and a beta of 6.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The stock has a 50 day moving average of $17.41 and a two-hundred day moving average of $16.09.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.72) earnings per share. As a group, equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Compass Point assumed coverage on Marathon Digital in a research report on Monday, September 15th. They set a "neutral" rating and a $18.00 price objective for the company. Macquarie increased their price objective on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Rosenblatt Securities increased their price objective on Marathon Digital from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday. BTIG Research reiterated a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Finally, Cantor Fitzgerald increased their price objective on Marathon Digital from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.90.

Institutional Trading of Marathon Digital

A number of hedge funds have recently modified their holdings of the business. Fifth Third Bancorp lifted its holdings in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after purchasing an additional 683 shares in the last quarter. CX Institutional lifted its holdings in shares of Marathon Digital by 12.6% in the second quarter. CX Institutional now owns 6,698 shares of the business services provider's stock valued at $105,000 after purchasing an additional 749 shares in the last quarter. Archer Investment Corp lifted its holdings in shares of Marathon Digital by 10.9% in the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider's stock valued at $120,000 after purchasing an additional 750 shares in the last quarter. Ranch Capital Advisors Inc. lifted its holdings in shares of Marathon Digital by 5.8% in the first quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock valued at $168,000 after purchasing an additional 805 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Marathon Digital by 2.7% in the second quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider's stock valued at $556,000 after purchasing an additional 934 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

About Marathon Digital

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.

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