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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $228,000.00. Following the transaction, the chief financial officer directly owned 409,066 shares of the company’s stock, valued at $5,829,190.50. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 shares were sold at an average price of $12.00, for a total transaction of $192,000.00.
• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $11.68, for a total transaction of $186,880.00.

Marathon Digital Price Performance

Shares of MARA traded up $0.63 during midday trading on Monday, hitting $14.85. 66,775,933 shares of the company traded hands, compared to its average volume of 34,557,028. The firm has a 50 day moving average of $12.83 and a 200-day moving average of $10.63. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -2.60 and a beta of 5.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84.

Institutional Trading of Marathon Digital

A number of large investors have recently made changes to their positions in MARA. Vanguard Group Inc. raised its position in shares of Marathon Digital by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after buying an additional 1,394,559 shares in the last quarter. State Street Corp lifted its holdings in shares of Marathon Digital by 1.4% in the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock valued at $210,977,000 after acquiring an additional 191,380 shares during the last quarter. UBS Group AG grew its position in Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares in the last quarter. Marex Group plc grew its position in Marathon Digital by 2.6% in the fourth quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after acquiring an additional 259,210 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Marathon Digital by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after acquiring an additional 251,674 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MARA has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 19th. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Rosenblatt Securities lifted their price objective on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Marathon Digital presently has an average rating of “Hold” and a consensus price target 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.