Marathon Digital (NASDAQ:MARA) General Counsel Sells $99,750.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 7,000 shares of the firm’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 $99,750.00. Following the transaction, the general counsel directly owned 963,768 shares in the company, valued at $13,733,694. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zabi Nowaid also recently made the following trade(s):

• On Monday, May 18th, Zabi Nowaid sold 8,250 shares of Marathon Digital stock. The shares were sold at an average price of $12.00, for a total transaction of $99,000.00.
• On Friday, April 17th, Zabi Nowaid sold 42,090 shares of Marathon Digital stock. The shares were sold at an average price of $12.00, for a total transaction of $505,080.00.

Marathon Digital Stock Performance

Shares of MARA traded up $0.63 during mid-day trading on Monday, hitting $14.85. 66,775,933 shares of the company’s stock were exchanged, compared to its average volume of 34,557,028. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The firm has a market capitalization of $5.66 billion, a P/E ratio of -2.60 and a beta of 5.38. The business’s 50 day moving average is $12.83 and its two-hundred day moving average is $10.63. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99.

Analyst Ratings Changes

A number of analysts have weighed in on MARA shares. Morgan Stanley decreased their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, May 19th. Cantor Fitzgerald dropped their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Finally, HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.38.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings 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 valued at $220,922,000 after buying an additional 6,172,110 shares during the period. Voloridge Investment Management LLC acquired a new position in Marathon Digital during the third quarter worth $93,066,000. Norges Bank purchased a new position in Marathon Digital in the fourth quarter worth $39,492,000. Vanguard Group Inc. raised its position in Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after acquiring an additional 4,049,979 shares in the last quarter. Finally, Capital Research Global Investors acquired a new stake in Marathon Digital in the third quarter valued at $68,090,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.