Frederick Thiel Sells 27,505 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $19.57, for a total value of $538,272.85. Following the completion of the transaction, the chief executive officer directly owned 3,718,700 shares of the company’s stock, valued at $72,774,959. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Marathon Digital Trading Down 3.2%

Shares of NASDAQ:MARA opened at $20.07 on Wednesday. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The company has a market capitalization of $7.44 billion, a PE ratio of 18.08 and a beta of 6.33. The business has a 50 day moving average of $17.50 and a two-hundred day moving average of $16.11. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MARA shares. Guggenheim started coverage on Marathon Digital in a research report on Tuesday. They issued a “neutral” rating for the company. Rosenblatt Securities boosted their price objective on Marathon Digital from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. BTIG Research restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Piper Sandler boosted their price objective on Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Finally, Cantor Fitzgerald boosted their price target on Marathon Digital from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Institutional Trading of Marathon Digital

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management purchased a new stake in Marathon Digital in the 2nd quarter valued at $31,000. Salomon & Ludwin LLC purchased a new stake in Marathon Digital in the 3rd quarter valued at $47,000. IFP Advisors Inc grew its holdings in Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after buying an additional 2,001 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,340 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

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.