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

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the completion of the sale, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at $36,351,560. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 16th, Salman Hassan Khan sold 16,700 shares of Marathon Digital stock. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00.

Marathon Digital Trading Up 4.8 %

Marathon Digital stock opened at $18.88 on Friday. The stock has a 50-day moving average price of $16.20 and a 200 day moving average price of $18.36. Marathon Digital Holdings, Inc. has a 52 week low of $7.63 and a 52 week high of $34.09. The stock has a market cap of $5.34 billion, a PE ratio of 8.78 and a beta of 5.50. 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 issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) earnings per share. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC grew its position in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in Marathon Digital in the 1st quarter worth about $90,000. DekaBank Deutsche Girozentrale purchased a new stake in Marathon Digital in the 1st quarter valued at about $105,000. Tobam increased its stake in shares of Marathon Digital by 173.0% during the 3rd quarter. Tobam now owns 7,701 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 4,880 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Marathon Digital by 108.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after acquiring an additional 3,565 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MARA. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. B. Riley upped their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Cantor Fitzgerald initiated coverage on Marathon Digital in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Thursday, October 10th. Finally, Macquarie started coverage on Marathon Digital in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.79.

Marathon Digital Company Profile

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.