Insider Selling: Marathon Digital (NASDAQ:MARA) CEO Sells 27,505 Shares of Stock

Key Points

• Marathon Digital CEO Frederick Thiel sold 27,505 shares at an average price of $17.38, totaling approximately $478,036, which resulted in a 0.73% decrease in his ownership.
• The company's stock was trading at $18.50 with recent performance indicating a market capitalization of $6.85 billion and a twelve-month revenue increase of 64% year-over-year.
• Analysts have been upgrading Marathon Digital, with JPMorgan and Macquarie raising price targets to $22.00 and $26.00 respectively, reflecting a "Moderate Buy" consensus rating.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total value of $478,036.90. Following the sale, the chief executive officer owned 3,755,789 shares in the company, valued at approximately $65,275,612.82. This trade represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Marathon Digital Price Performance

NASDAQ:MARA traded down $0.21 during trading hours on Friday, reaching $18.29. 62,723,905 shares of the company traded hands, compared to its average volume of 62,780,952. The firm's 50-day moving average is $16.60 and its 200-day moving average is $15.15. The stock has a market cap of $6.78 billion, a P/E ratio of 16.48 and a beta of 6.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28.

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. The firm had revenue of $238.50 million for the quarter, compared to analysts' expectations of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.Marathon Digital's quarterly revenue was up 64.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.72) EPS. Equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in Marathon Digital by 59.9% in 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. CX Institutional boosted its holdings in Marathon Digital by 12.6% in the second quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after purchasing an additional 749 shares in the last quarter. Archer Investment Corp boosted its holdings in Marathon Digital by 10.9% in the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider's stock worth $120,000 after purchasing an additional 750 shares in the last quarter. Ranch Capital Advisors Inc. boosted its holdings in Marathon Digital by 5.8% in the first quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock worth $168,000 after purchasing an additional 805 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Marathon Digital by 5.1% during the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after acquiring an additional 878 shares during the period. Institutional investors and hedge funds own 44.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MARA shares. Piper Sandler raised their price objective on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Macquarie raised their price objective on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Compass Point started coverage on Marathon Digital in a report on Monday. They set a "neutral" rating and a $18.00 price objective on the stock. BTIG Research restated a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Finally, Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.50.

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.