Insider Selling: Marathon Digital (NASDAQ:MARA) CFO Sells 34,732 Shares of Stock

Key Points

• Marathon Digital CFO Salman Hassan Khan sold 34,732 shares of company stock at an average price of $22.74, totaling approximately $789,805.68, reducing his holdings by 9.85%.
• The company's stock traded down 3.4% to $19.57, with a market cap of $7.25 billion and a PE ratio of 17.63.
• Marathon Digital reported earnings per share (EPS) of $1.84 for the last quarter, significantly exceeding the consensus estimate and marking a 64.0% year-over-year revenue increase.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction 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 sale, the chief financial officer owned 318,030 shares in the company, valued at $7,232,002.20. The trade was a 9.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $16.24, for a total transaction 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 Trading Down 3.4%

Shares of NASDAQ:MARA traded down $0.69 during mid-day trading on Friday, reaching $19.57. The stock had a trading volume of 49,705,727 shares, compared to its average volume of 46,879,785. The firm has a market cap of $7.25 billion, a PE ratio of 17.63 and a beta of 6.33. The firm has a 50 day simple moving average of $17.22 and a two-hundred day simple moving average of $15.91. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28.

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

Institutional Investors Weigh In On Marathon Digital

Several hedge funds and other institutional investors have recently made changes to their positions in MARA. Fifth Third Bancorp grew its position in Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after acquiring an additional 683 shares during the last quarter. Estabrook Capital Management bought a new stake in shares of Marathon Digital during the second quarter worth about $31,000. IFP Advisors Inc increased its stake in shares of Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after buying an additional 2,001 shares during the period. Osaic Holdings Inc. raised its holdings in Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock valued at $76,000 after buying an additional 1,340 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Marathon Digital by 303.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider's stock worth $75,000 after buying an additional 3,771 shares during the period. 44.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MARA shares. Piper Sandler lifted their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Compass Point initiated coverage on shares of Marathon Digital in a report on Monday, September 15th. They set a "neutral" rating and a $18.00 target price for the company. Rosenblatt Securities increased their price target on shares of Marathon Digital from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of Marathon Digital in a research report on Wednesday, October 8th. Finally, Macquarie upped their target price on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Marathon Digital currently has an average rating of "Moderate Buy" and an average target price of $23.90.

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.

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