Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Sells $661,644.60 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the completion of the transaction, the chief financial officer owned 324,572 shares of the company's stock, valued at approximately $6,183,096.60. The trade was a 9.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, June 12th, Salman Hassan Khan sold 34,733 shares of Marathon Digital stock. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05.
• On Friday, May 16th, Salman Hassan Khan sold 16,700 shares of Marathon Digital stock. The stock was sold at an average price of $15.68, for a total value of $261,856.00.
• On Friday, May 9th, Salman Hassan Khan sold 33,400 shares of Marathon Digital stock. The shares were sold at an average price of $15.00, for a total value of $501,000.00.

Marathon Digital Stock Up 2.7%

Shares of NASDAQ MARA traded up $0.53 during midday trading on Thursday, reaching $19.97. 37,447,715 shares of the company's stock traded hands, compared to its average volume of 45,022,587. The stock's 50 day simple moving average is $16.12 and its 200-day simple moving average is $15.40. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -13.77 and a beta of 6.53. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The company had revenue of $213.88 million during the quarter, compared to analysts' expectations of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. On average, analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Marathon Digital by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock valued at $457,832,000 after purchasing an additional 1,028,512 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Marathon Digital by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock valued at $128,755,000 after buying an additional 518,503 shares during the period. American Century Companies Inc. grew its holdings in shares of Marathon Digital by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after purchasing an additional 2,250,082 shares during the period. Northern Trust Corp raised its stake in shares of Marathon Digital by 7.2% in the 1st quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider's stock valued at $40,592,000 after acquiring an additional 236,251 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Marathon Digital by 9.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock valued at $38,210,000 after purchasing an additional 294,161 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on MARA. Barclays increased their target price on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. HC Wainwright reissued a "buy" rating and issued a $28.00 target price on shares of Marathon Digital in a report on Thursday, April 24th. Piper Sandler lowered their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Rosenblatt Securities lifted their target price on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Compass Point reissued a "sell" rating and issued a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Marathon Digital presently has a consensus rating of "Hold" and a consensus target price of $20.94.

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.

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