Insider Selling: Marathon Digital (NASDAQ:MARA) General Counsel Sells $99,750.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $99,750.00. Following the completion of the sale, the general counsel directly owned 963,768 shares in the company, valued at $13,733,694. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zabi Nowaid also recently made the following trade(s):

• On Monday, May 18th, Zabi Nowaid sold 8,250 shares of Marathon Digital stock. The shares were sold at an average price of $12.00, for a total transaction of $99,000.00.
• On Friday, April 17th, Zabi Nowaid sold 42,090 shares of Marathon Digital stock. The stock was sold at an average price of $12.00, for a total value of $505,080.00.

Marathon Digital Trading Down 5.0%

NASDAQ MARA opened at $13.96 on Thursday. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. The stock has a 50-day simple moving average of $13.00 and a 200 day simple moving average of $10.65. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $5.32 billion, a PE ratio of -2.44 and a beta of 5.38.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MARA. Morgan Stanley dropped their price objective on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 19th. Citizens Jmp assumed coverage on shares of Marathon Digital in a research report on Wednesday. They set a “market outperform” rating and a $24.00 target price on the stock. Cantor Fitzgerald lowered their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. BTIG Research reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Finally, Rosenblatt Securities boosted their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Institutional Trading of Marathon Digital

A number of large investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC grew its holdings in Marathon Digital by 26.1% during the first quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 5,610 shares during the period. Empowered Funds LLC raised its stake in shares of Marathon Digital by 14.2% in the first quarter. Empowered Funds LLC now owns 13,091 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,632 shares during the period. DV Trading LLC purchased a new position in shares of Marathon Digital during the 1st quarter valued at $99,000. Essential Partners LLC grew its stake in shares of Marathon Digital by 288,266.7% during the 1st quarter. Essential Partners LLC now owns 8,651 shares of the business services provider’s stock worth $71,000 after acquiring an additional 8,648 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in Marathon Digital in the 1st quarter valued at about $2,864,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.