Marathon Digital (NASDAQ:MARA) CFO Sells $122,560.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the business’s 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 $122,560.00. Following the transaction, the chief financial officer directly owned 359,165 shares in the company, valued at $2,751,203.90. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, December 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The stock was sold at an average price of $11.48, for a total value of $398,723.36.

Marathon Digital Stock Up 6.1%

Shares of MARA traded up $0.46 during mid-day trading on Thursday, reaching $7.96. 36,216,965 shares of the stock traded hands, compared to its average volume of 46,197,864. The stock has a fifty day simple moving average of $9.58 and a 200 day simple moving average of $13.80. 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 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 4.42 and a beta of 5.56.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds have recently bought and sold shares of MARA. Bessemer Group Inc. raised its stake in Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares in the last quarter. Archer Investment Corp grew its position in shares of Marathon Digital by 10.9% in the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after acquiring an additional 750 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Marathon Digital by 15.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 799 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Marathon Digital by 3.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock valued at $537,000 after acquiring an additional 882 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Marathon Digital by 2.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider’s stock valued at $556,000 after acquiring an additional 934 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of recent analyst reports. Morgan Stanley began coverage on shares of Marathon Digital in a report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price objective on the stock. Compass Point upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, November 24th. Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Piper Sandler dropped their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Finally, Rosenblatt Securities cut their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given 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 $21.00.

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.