Marathon Digital (NASDAQ:MARA) CEO Frederick Thiel Sells 27,505 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the sale, the chief executive officer owned 4,562,009 shares in the company, valued at $65,008,628.25. This represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Price Performance

Marathon Digital stock opened at $14.85 on Tuesday. Marathon Digital Holdings, Inc. has a 52-week low of $6.66 and a 52-week 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 firm’s fifty day moving average is $12.83 and its 200 day moving average is $10.63. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -2.60 and a beta of 5.38.

Institutional Trading of Marathon Digital

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on MARA shares. Rosenblatt Securities upped their price objective on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Weiss Ratings downgraded Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, Cantor Fitzgerald lowered their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.