Insider Selling: Marathon Digital (NASDAQ:MARA) CFO Sells 16,000 Shares of Stock

Key Points

• Marathon Digital CFO Salman Hassan Khan sold 16,000 shares on May 18 at an average price of $12.00, for proceeds of $192,000. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• After the transaction, Khan still owned 425,066 shares valued at about $5.1 million, and the sale represented a 3.63% reduction in his holdings.
• Marathon Digital shares rose to $13.15 in recent trading, while the company continues to face weak fundamentals, including a recent quarterly EPS miss and revenue below analyst expectations.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CFO Salman Hassan Khan sold 16,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $192,000.00. Following the completion of the transaction, the chief financial officer directly owned 425,066 shares of the company's stock, valued at $5,100,792. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $11.68, for a total value of $186,880.00.
• On Tuesday, March 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $9.18, for a total value of $146,880.00.

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Marathon Digital Price Performance

NASDAQ:MARA traded up $0.71 during trading hours on Wednesday, reaching $13.15. 51,364,307 shares of the company traded hands, compared to its average volume of 44,521,300. The firm's 50-day moving average is $10.42 and its 200-day moving average is $10.52. The stock has a market cap of $5.01 billion, a P/E ratio of -2.30 and a beta of 5.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. Marathon Digital Holdings, Inc. has a 1-year low of $6.66 and a 1-year high of $23.45.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The business had revenue of $202.31 million for the quarter, compared to analyst estimates of $250.74 million. During the same quarter last year, the business earned $1.24 EPS. Marathon Digital's revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in MARA. Hollencrest Capital Management grew its position in Marathon Digital by 2,407.4% during the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider's stock valued at $25,000 after acquiring an additional 1,300 shares during the period. Ascentis Independent Advisors purchased a new stake in Marathon Digital during the first quarter valued at about $28,000. Bessemer Group Inc. grew its position in Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider's stock valued at $33,000 after acquiring an additional 659 shares during the period. Bogart Wealth LLC grew its position in Marathon Digital by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock valued at $33,000 after acquiring an additional 3,954 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Marathon Digital during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 44.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MARA. Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Morgan Stanley dropped their price objective on shares of Marathon Digital from $8.50 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday. Weiss Ratings downgraded shares of Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, May 12th. HC Wainwright reaffirmed a "neutral" rating on shares of Marathon Digital in a research note on Friday, February 27th. Finally, Rosenblatt Securities upped their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.38.

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.

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