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 stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total transaction of $210,688.30. Following the sale, the chief executive officer directly owned 3,381,861 shares of the company’s stock, valued at $25,905,055.26. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Marathon Digital Stock Up 6.1%

Shares of NASDAQ:MARA traded up $0.46 during midday trading on Thursday, reaching $7.96. 36,216,965 shares of the company were exchanged, compared to its average volume of 46,197,864. The firm has a market cap of $3.01 billion, a PE ratio of 4.42 and a beta of 5.56. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The stock has a fifty day simple moving average of $9.58 and a two-hundred day simple moving average of $13.80. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63.

Analysts Set New Price Targets

A number of research firms recently issued reports on MARA. Piper Sandler decreased their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Morgan Stanley started coverage on shares of Marathon Digital in a research note on Monday, February 9th. They set an “underweight” rating and a $8.00 price target for the company. Weiss Ratings lowered shares of Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and a consensus price target of $21.00.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in MARA. Bessemer Group Inc. lifted 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 valued at $33,000 after acquiring an additional 659 shares during the last quarter. Archer Investment Corp raised its holdings 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 valued at $120,000 after purchasing an additional 750 shares during the period. Smartleaf Asset Management LLC lifted its stake in 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 valued at $108,000 after purchasing an additional 799 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Marathon Digital by 3.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock worth $537,000 after purchasing an additional 882 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in Marathon Digital by 2.7% during the second quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider’s stock worth $556,000 after buying an additional 934 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.