Insider Selling: MARA (NASDAQ:MARA) CEO Sells $308,606.10 in Stock

Key Points

• MARA CEO Frederick Thiel sold 27,505 shares at an average price of $11.22, generating $308,606.10. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with approximately 4.22 million shares.
• MARA shares traded near $11.23, well below their 52-week high of $23.45, while the company reported a quarterly loss of $1.60 per share and revenue of $174.88 million, missing analyst expectations.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $19.20; institutional investors and hedge funds own 44.53% of the stock.

MARA Holdings (NASDAQ:MARA - Get Free Report) CEO Frederick Thiel sold 27,505 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $11.22, for a total transaction of $308,606.10. Following the completion of the sale, the chief executive officer owned 4,217,586 shares of the company's stock, valued at approximately $47,321,314.92. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MARA Stock Performance

MARA traded up $0.02 during trading on Friday, reaching $11.23. The company's stock had a trading volume of 42,198,459 shares, compared to its average volume of 42,648,000. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The company's fifty day moving average price is $11.23 and its 200-day moving average price is $11.71. MARA Holdings has a 52-week low of $6.66 and a 52-week high of $23.45. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -1.23 and a beta of 5.33.

MARA (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($1.77). MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The business had revenue of $174.88 million for the quarter, compared to analysts' expectations of $209.44 million. During the same period last year, the company posted $1.84 earnings per share. The business's quarterly revenue was down 26.7% on a year-over-year basis. On average, equities analysts forecast that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Institutional Trading of MARA

Several large investors have recently modified their holdings of MARA. Norges Bank acquired a new position in MARA during the 4th quarter worth approximately $39,492,000. Delta Global Management LP acquired a new position in shares of MARA during the first quarter worth $5,064,000. Hsbc Holdings PLC purchased a new position in shares of MARA in the fourth quarter valued at $5,220,000. Compass Rose Asset Management LP purchased a new position in shares of MARA in the first quarter valued at $4,243,000. Finally, Compass Financial Management LLC acquired a new stake in MARA during the 2nd quarter valued at $6,000,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MARA shares. Citizens Jmp initiated coverage on shares of MARA in a research report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 target price on the stock. Morgan Stanley reiterated an "underweight" rating and issued a $11.00 price target (up from $6.00) on shares of MARA in a report on Friday, September 18th. Cantor Fitzgerald decreased their price objective on shares of MARA from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Weiss Ratings raised shares of MARA from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $15.00 target price on shares of MARA in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.20.

MARA Company Profile

MARA Holdings, Inc NASDAQ: MARA, formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.

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