Marathon Digital (NASDAQ:MARA) General Counsel Zabi Nowaid Sells 7,000 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 7,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $99,750.00. Following the sale, the general counsel directly owned 963,768 shares in the company, valued at approximately $13,733,694. This represents a 0.72% decrease in their position. The sale 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 stock was 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 transaction of $505,080.00.

Marathon Digital Price Performance

MARA opened at $14.85 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50 day simple moving average is $12.83 and its 200-day simple moving average is $10.63. Marathon Digital Holdings, Inc. has a one year low of $6.66 and a one year high of $23.45. The stock has a market capitalization of $5.66 billion, a P/E ratio of -2.60 and a beta of 5.38.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Marathon Digital by 9.8% during the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $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 3rd quarter valued at about $4,643,000. Farallon Capital Management LLC grew its position in shares of 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 acquiring an additional 2,825,000 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Marathon Digital in the 4th quarter valued at about $10,201,000. Finally, Brevan Howard Capital Management LP lifted its stake in Marathon Digital by 238.7% in 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 purchasing an additional 137,606 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

MARA has been the topic of several research reports. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Morgan Stanley cut 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 report on Tuesday, May 19th. Cantor Fitzgerald dropped their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Rosenblatt Securities lifted their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and a consensus target price of $18.38.

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.