Marathon Digital (NASDAQ:MARA) CEO Sells $420,276.40 in Stock

Key Points

• Frederick Thiel, CEO of Marathon Digital, sold 27,505 shares of the company's stock for approximately $420,276.40, reducing his ownership by 0.72% to 3,810,799 shares.
• Marathon Digital reported $1.84 EPS for the last quarter, significantly exceeding analysts' estimates and achieving a 64% increase in revenue year-over-year.
• The company's stock price has recently declined by 5.7%, following the CEO's stock sale, and is currently trading at around $15.17.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CEO Frederick Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the sale, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Marathon Digital Stock Down 5.7%

Shares of NASDAQ MARA traded down $0.92 during mid-day trading on Tuesday, hitting $15.17. 40,668,174 shares of the stock traded hands, compared to its average volume of 43,469,556. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. Marathon Digital Holdings, Inc. has a 52 week low of $9.81 and a 52 week high of $30.28. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 13.67 and a beta of 6.24. The stock has a fifty day moving average price of $16.57 and a 200-day moving average price of $15.05.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. During the same quarter in the previous year, the business earned ($0.72) earnings per share. The firm's quarterly revenue was up 64.0% compared to the same quarter last year. Research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 2.7% in the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after buying an additional 1,028,512 shares during the period. State Street Corp raised its holdings in shares of Marathon Digital by 1.4% in the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider's stock worth $210,977,000 after buying an additional 191,380 shares during the period. Geode Capital Management LLC raised its holdings in shares of Marathon Digital by 3.5% in the second quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider's stock worth $144,669,000 after buying an additional 315,499 shares during the period. American Century Companies Inc. raised its holdings in shares of Marathon Digital by 7.8% in the second quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider's stock worth $106,329,000 after buying an additional 491,245 shares during the period. Finally, Marex Group plc purchased a new stake in shares of Marathon Digital in the second quarter worth approximately $84,301,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Marathon Digital in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their price target for the company from $19.00 to $22.00 in a research note on Monday, July 28th. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and increased their price target for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Finally, Cantor Fitzgerald increased their price target on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.22.

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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