Marathon Digital (NASDAQ:MARA) CFO Sells $416,436.68 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the transaction, the chief financial officer owned 283,298 shares in the company, valued at approximately $3,396,743.02. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, October 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The shares were sold at an average price of $22.74, for a total transaction of $789,805.68.
• On Monday, September 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68.

Marathon Digital Trading Down 6.6%

MARA traded down $0.78 during trading on Wednesday, hitting $11.10. 51,315,984 shares of the company’s stock were exchanged, compared to its average volume of 46,456,535. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The stock has a 50 day moving average price of $17.76 and a 200 day moving average price of $16.65. The firm has a market cap of $4.20 billion, a P/E ratio of 10.00 and a beta of 6.40. 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 announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $252.41 million for the quarter, compared to analysts’ expectations of $254.58 million. As a group, analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its stake in Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares in the last quarter. Fifth Third Bancorp raised its stake in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares in the last quarter. CX Institutional lifted its holdings in Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock worth $105,000 after buying an additional 749 shares during the last quarter. Archer Investment Corp grew its position in shares of Marathon Digital by 10.9% in the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after acquiring an additional 750 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Marathon Digital by 15.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after acquiring an additional 799 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

MARA has been the topic of several analyst reports. Macquarie raised their target price on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Rosenblatt Securities dropped their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Cantor Fitzgerald decreased their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a report on Monday. Finally, BTIG Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.00.

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.