Marathon Digital (NASDAQ:MARA) CEO Sells $296,228.85 in Stock

Key Points

• CEO Frederick Thiel sold 27,505 shares at an average price of $10.77 for a total of $296,228.85, leaving him with 3,555,489 shares (a 0.77% reduction in his stake) per an SEC filing.
• Marathon's stock traded up about 5.1% to $10.18 on heavy volume (55.0M shares vs. an average of 46.3M), with a market cap of roughly $3.85 billion and a 1‑year range of $9.61–$23.45.
• Analysts have a consensus rating of “Moderate Buy” with an average price target of $23.56 (range roughly $21–$30), even as the company recently missed quarterly EPS and reported revenue slightly below expectations.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CEO Frederick Thiel sold 27,505 shares of the company's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total transaction of $296,228.85. Following the completion of the transaction, the chief executive officer owned 3,555,489 shares of the company's stock, valued at $38,292,616.53. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Marathon Digital Stock Up 5.1%

Marathon Digital stock traded up $0.49 during midday trading on Friday, hitting $10.18. 55,020,570 shares of the stock were exchanged, compared to its average volume of 46,257,906. Marathon Digital Holdings, Inc. has a 1 year low of $9.61 and a 1 year high of $23.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $3.85 billion, a P/E ratio of 5.66 and a beta of 5.42. The company has a 50 day moving average price of $14.81 and a two-hundred day moving average price of $16.04.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The firm had revenue of $252.41 million during the quarter, compared to analysts' expectations of $254.58 million. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Guggenheim started coverage on Marathon Digital in a research report on Tuesday, October 21st. They issued a "neutral" rating on the stock. Macquarie upped their price target on shares of Marathon Digital from $26.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, October 22nd. BTIG Research reaffirmed a "buy" rating and set a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Compass Point upgraded Marathon Digital from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a research note on Monday, November 24th. Finally, Cantor Fitzgerald cut their price objective on Marathon Digital from $30.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Marathon Digital has a consensus rating of "Moderate Buy" and an average price target of $23.56.

Hedge Funds Weigh In On Marathon Digital

A number of large investors have recently bought and sold shares of MARA. Bessemer Group Inc. grew its holdings in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider's stock valued at $33,000 after purchasing an additional 659 shares during the last quarter. Fifth Third Bancorp boosted its position in 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 purchasing an additional 683 shares during the period. CX Institutional grew its stake in Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after buying an additional 749 shares during the last quarter. Archer Investment Corp grew its stake in Marathon Digital by 10.9% during the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider's stock worth $120,000 after buying an additional 750 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Marathon Digital by 15.9% in the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider's stock worth $108,000 after buying an additional 799 shares during the period. Institutional investors own 44.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.