Marathon Digital (NASDAQ:MARA) CEO Sells $210,688.30 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) CEO Frederick Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total value of $210,688.30. Following the sale, the chief executive officer directly owned 3,381,861 shares in the company, valued at $25,905,055.26. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Marathon Digital Stock Up 0.1%

Shares of MARA stock opened at $7.97 on Friday. The stock has a market cap of $3.01 billion, a P/E ratio of 4.43 and a beta of 5.56. Marathon Digital Holdings, Inc. has a one year low of $6.66 and a one year high of $23.45. The stock has a fifty day moving average price of $9.51 and a 200 day moving average price of $13.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Wall Street Analyst Weigh In

MARA has been the subject of a number of analyst reports. Cantor Fitzgerald cut their price target 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. Morgan Stanley started coverage on Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price for the company. Weiss Ratings upgraded Marathon Digital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. JPMorgan Chase & Co. decreased their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Finally, Piper Sandler dropped their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.00.

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Trending Headlines about Marathon Digital

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hollencrest Capital Management increased its holdings in Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Marathon Digital by 56.8% during 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 during the last quarter. Estabrook Capital Management acquired a new stake in shares of Marathon Digital in the second quarter valued at $31,000. Salomon & Ludwin LLC bought a new position in shares of Marathon Digital in the third quarter valued at about $47,000. Finally, IFP Advisors Inc raised its holdings in shares of Marathon Digital by 375.4% in the second 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 during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

About Marathon Digital

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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.

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Insider Buying and Selling by Quarter for Marathon Digital (NASDAQ:MARA)

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