Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan Sells 16,700 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Marathon Digital Stock Up 0.6 %

Marathon Digital stock opened at $15.54 on Friday. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 7.23 and a beta of 5.51. The firm’s fifty day moving average price is $17.88 and its two-hundred day moving average price is $19.00. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The firm’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period last year, the business posted ($0.13) earnings per share. On average, equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Marathon Digital by 261.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after buying an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Marathon Digital by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after buying an additional 1,327,969 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Marathon Digital by 4,394.8% during the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after buying an additional 1,324,625 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Marathon Digital by 12.7% during the second quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock worth $26,477,000 after buying an additional 149,805 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

MARA has been the topic of several research analyst reports. B. Riley increased their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. cut their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.22.

About Marathon Digital

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.