Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 16,000 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $228,000.00. Following the completion of the sale, the chief financial officer directly owned 409,066 shares of the company’s stock, valued at $5,829,190.50. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 18th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $12.00, for a total value of $192,000.00.
• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $11.68, for a total value of $186,880.00.

Marathon Digital Trading Up 4.4%

Shares of Marathon Digital stock opened at $14.85 on Tuesday. The firm’s 50-day moving average price is $12.83 and its two-hundred day moving average price is $10.63. Marathon Digital Holdings, Inc. has a 12-month low of $6.66 and a 12-month high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of -2.60 and a beta of 5.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after buying an additional 4,049,979 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Marathon Digital in the third quarter valued at approximately $4,643,000. Farallon Capital Management LLC boosted its holdings in Marathon Digital by 338.3% in the 3rd quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock valued at $66,832,000 after purchasing an additional 2,825,000 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Marathon Digital during the fourth quarter valued at $10,201,000. Finally, Brevan Howard Capital Management LP boosted its position in shares of Marathon Digital by 238.7% during the 3rd quarter. Brevan Howard Capital Management LP now owns 195,260 shares of the business services provider’s stock valued at $3,565,000 after acquiring an additional 137,606 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. BTIG Research restated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Monday, June 1st. Finally, Rosenblatt Securities increased their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.38.

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.