Clear Street Group Inc. Sells 590,500 Shares of Marathon Digital Holdings, Inc. $MARA

Clear Street Group Inc. reduced its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 31.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,289,600 shares of the business services provider’s stock after selling 590,500 shares during the quarter. Clear Street Group Inc. owned about 0.34% of Marathon Digital worth $11,581,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MARA. UBS Group AG grew its position in shares of Marathon Digital by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Marathon Digital in the 3rd quarter worth approximately $93,066,000. Norges Bank bought a new stake in shares of Marathon Digital in the 4th quarter worth approximately $39,492,000. Vanguard Group Inc. grew its position in shares of Marathon Digital by 9.8% in the 3rd 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. Finally, Capital Research Global Investors bought a new stake in shares of Marathon Digital in the 3rd quarter worth approximately $68,090,000. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Trading Up 3.5%

Marathon Digital stock opened at $14.08 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $12.19 and its two-hundred day simple moving average is $10.51. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of -2.46 and a beta of 5.38.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $330,060.00. Following the sale, the chief executive officer directly owned 4,589,514 shares of the company’s stock, valued at approximately $55,074,168. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $192,000.00. Following the completion of the sale, the chief financial officer directly owned 425,066 shares in the company, valued at $5,100,792. This trade represents a 3.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 180,855 shares of company stock valued at $2,033,654. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MARA. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. BTIG Research restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Rosenblatt Securities lifted their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald dropped their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.