Marathon Digital (NASDAQ:MARA) Shares Gap Down After Insider Selling

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $18.88, but opened at $18.32. Marathon Digital shares last traded at $18.30, with a volume of 4,919,898 shares traded.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

MARA has been the subject of several analyst reports. Macquarie assumed coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target for the company. Cantor Fitzgerald assumed coverage on Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. B. Riley increased their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and an average target price of $19.79.

Marathon Digital Stock Performance

The company has a market capitalization of $5.18 billion, a PE ratio of 8.78 and a beta of 5.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The business’s 50-day moving average is $16.20 and its 200-day moving average is $18.34.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The company had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. Marathon Digital’s revenue was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share. On average, research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Institutional Trading of Marathon Digital

Several institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. boosted its stake in shares of Marathon Digital by 24.0% in the 4th quarter. American International Group Inc. now owns 105,896 shares of the business services provider’s stock worth $2,487,000 after buying an additional 20,472 shares during the last quarter. Vanguard Group Inc. grew its holdings in Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after buying an additional 4,950,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Marathon Digital by 91.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 52,624 shares of the business services provider’s stock valued at $1,188,000 after buying an additional 25,205 shares during the last quarter. Pasadena Private Wealth LLC lifted its holdings in shares of Marathon Digital by 25.2% in the first quarter. Pasadena Private Wealth LLC now owns 12,609 shares of the business services provider’s stock worth $285,000 after buying an additional 2,537 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Marathon Digital during the first quarter worth $624,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

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.