Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick G. Thiel Sells 27,505 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Marathon Digital Stock Performance

Shares of MARA stock opened at $18.88 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 8.78 and a beta of 5.50. Marathon Digital Holdings, Inc. has a one year low of $7.63 and a one year high of $34.09. The company’s 50-day moving average is $16.20 and its 200 day moving average is $18.34.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. During the same quarter in the previous year, the company earned ($0.13) EPS. The company’s quarterly revenue was up 77.5% compared to the same quarter last year. Sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MARA. Vanguard Group Inc. increased its holdings in Marathon Digital by 26.7% in the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after buying an additional 4,950,392 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Marathon Digital by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after acquiring an additional 2,340,472 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Marathon Digital by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after acquiring an additional 1,327,969 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Marathon Digital by 4,394.8% during the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in Marathon Digital during the second quarter valued at approximately $11,920,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Cantor Fitzgerald started coverage on Marathon Digital in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective on the stock. B. Riley upped their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, October 10th. Macquarie assumed coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.79.

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.