ProShare Advisors LLC Sells 5,386 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

ProShare Advisors LLC reduced its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 12.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,240 shares of the business services provider’s stock after selling 5,386 shares during the quarter. ProShare Advisors LLC’s holdings in Marathon Digital were worth $719,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC increased its stake in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in Marathon Digital during the first quarter worth about $90,000. DekaBank Deutsche Girozentrale bought a new position in Marathon Digital during the first quarter valued at about $105,000. GAMMA Investing LLC raised its holdings in Marathon Digital by 108.0% in the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after acquiring an additional 3,565 shares in the last quarter. Finally, Natixis bought a new stake in shares of Marathon Digital in the 1st quarter worth approximately $177,000. Institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MARA shares. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. Macquarie assumed coverage on Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price for the company. B. Riley raised their target price on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. lowered their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.61.

Marathon Digital Price Performance

MARA opened at $17.29 on Monday. The company has a fifty day simple moving average of $17.04 and a 200 day simple moving average of $18.80. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.89 billion, a P/E ratio of 8.04 and a beta of 5.51. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same quarter last year, the firm earned ($0.13) EPS. The company’s revenue for the quarter was up 77.5% on a year-over-year basis. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current year.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,212 shares of company stock valued at $726,178. 1.11% of the stock is currently owned by corporate insiders.

Marathon Digital Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.