Salman Hassan Khan Sells 34,732 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $22.74, for a total value of $789,805.68. Following the transaction, the chief financial officer owned 318,030 shares in the company, valued at $7,232,002.20. This represents a 9.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, September 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The stock was sold at an average price of $16.24, for a total value of $564,047.68.
• On Friday, August 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The stock was sold at an average price of $15.73, for a total value of $546,334.36.

Marathon Digital Price Performance

Shares of Marathon Digital stock opened at $19.57 on Friday. The business has a 50 day simple moving average of $17.31 and a two-hundred day simple moving average of $15.96. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The stock has a market capitalization of $7.25 billion, a P/E ratio of 17.63 and a beta of 6.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

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Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. During the same quarter in the prior year, the firm earned ($0.72) earnings per share. The business's revenue was up 64.0% compared to the same quarter last year. As a group, analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MARA. Fifth Third Bancorp increased its position in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management acquired a new stake in shares of Marathon Digital during the second quarter worth about $31,000. IFP Advisors Inc increased its position in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after purchasing an additional 2,001 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Marathon Digital by 303.6% during the second quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider's stock worth $75,000 after purchasing an additional 3,771 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Marathon Digital by 38.6% during the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,340 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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Several research analysts recently weighed in on the company. Cantor Fitzgerald increased their price objective on Marathon Digital from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Marathon Digital in a research report on Wednesday, October 8th. BTIG Research reiterated a "buy" rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Finally, Piper Sandler raised their price target on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Marathon Digital has an average rating of "Moderate Buy" and a consensus target price of $23.90.

Get Our Latest Research Report on Marathon Digital

About Marathon Digital

(Get Free Report)

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.

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