Marathon Digital (NASDAQ:MARA) CFO Sells $228,000.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $228,000.00. Following the transaction, the chief financial officer directly owned 409,066 shares in the company, valued at approximately $5,829,190.50. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 18th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $12.00, for a total transaction of $192,000.00.
• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $11.68, for a total transaction of $186,880.00.

Marathon Digital Price Performance

NASDAQ MARA opened at $13.96 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of -2.44 and a beta of 5.38. The company’s 50 day moving average is $13.00 and its two-hundred day moving average is $10.65.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. BTIG Research reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Morgan Stanley lowered their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 19th. Citizens Jmp assumed coverage on Marathon Digital in a research note on Wednesday. They issued a “market outperform” rating and a $24.00 price objective for the company. Finally, HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. United Capital Management of KS Inc. lifted its holdings in shares of Marathon Digital by 2.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock valued at $731,000 after acquiring an additional 937 shares during the last quarter. CI Investments Inc. increased its stake in Marathon Digital by 7.6% during the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock worth $110,000 after acquiring an additional 957 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 991 shares during the period. Evexia Wealth LLC lifted its stake in shares of Marathon Digital by 9.2% in the 1st quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of Marathon Digital by 12.4% in the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,320 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

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.